Security analytics giant Rapid7 Inc has acquired UCD spinout Logentries for US$68m. Logentries is a provider of machine data search technology that Rapid7 will use to help security teams around the world more deeply investigate security incidents.
Rapid7 acquired Logentries for an aggregate purchase price of approximately US$68m, consisting of approximately US$36m in cash and US$32m in Rapid7 equity.
Logentries is headquartered in Boston, Massachusetts, with a talented research and development team based in Dublin.
Logentries serves more than 3,000 customers in over 65 countries across a diverse set of industries.
Logentries has approximately 70 employees, nearly all of whom joined Rapid7, including all of the engineering and development professionals in Dublin. Rapid7 will continue to build this team and invest in its presence in Ireland.
The acquisition of Logentries accelerates Rapid7’s product roadmap, adding machine data search, forensics and compliance capabilities that complement and build upon Rapid7’s core technology leadership and market strengths around threat exposure management, incident detection, investigation, and analytics.
Rise of the machine data
“We’re thrilled to add Logentries’ technology and team to Rapid7,” said Rapid7 CEO Corey Thomas. “The disruptive combination of Rapid7’s industry-leading data collection and security analytics and Logentries’ compelling machine data search technology enables customers to better understand and quickly respond to risk in their IT environment. This is a natural progression of our security data and analytics platform, complementing our value proposition and accelerating our time to market.”
Logentries’ innovative technology provides a powerful cloud-based solution for searching, visualising and analysing machine data and logs. Built-in tagging, alerting and reporting make it easy for customers to maintain a proactive view of their environment and identify anomalous events.
“Rapid7’s leading position in the security data and analytics market gives us the opportunity to reach an evolving and expanding market that is looking for lower cost access to machine data, along with advanced security data collection and analytics,” said Logentries’ CEO Andrew Burton.
Following the announcement, Professor Orla Feely, UCD vice-president of research, innovation and impact said: “I would like to congratulate Dr Trevor Parsons, Dr Viliam Holub and the entire Logentries team following the announcement by Rapid7 that it is acquiring the UCD spinout company for US$68m.”
She added: “Logentries, which emerged from UCD’s research focus on ‘big data’ and the fostering of partnerships by the university with industry, is an excellent example of the quality of the companies emerging from University College Dublin.
“The company, originally based and supported at NovaUCD, has grown over just five years into a global company delivering significant impact for its thousands of customers around the world.
“I wish the Logentries team continuing success as part of Rapid7. I now look forward to seeking opportunities to develop mutually beneficial partnerships between Rapid7 and UCD in areas of research, innovation and providing access to our pool of talented graduates.”