Splunk has announced that it has entered a definitive agreement to buy SaaS-based monitoring and analytics platform SignalFx. Splunk is going to acquire SignalFx for an approximate price of $1.05 billion. 60% of this transaction is to take place in cash and 40% will be paid in Splunk common stock. The acquisition is scheduled for a close in the second half of the fiscal 2020.
The acquisition of SignalFx will help Splunk give its customers access to a single platform which is capable of monitoring the entire enterprise application lifecycle easily.
SignalFx was founded in 2013 by developers of Facebook’s metric-based monitoring solutions (ODS). The company has raised $178.5 million in total funding until now and is backed by Andreessen Horowitz, Tiger Global Management, CRV and General Catalyst.SignalFx’s customer list includes hundreds of market-leading brands like Acquia, Yelp, Namely, Rappi, HubSpot, Freecharge, Kayak, athenahealth, NBCUniversal and many more.
Karthik Rau, Founder and CEO of SignalFx said: “By joining Splunk, we will create a powerful monitoring platform - one ready to support CIOs whether they have fully embraced cloud or have existing applications in the data center.”