SevOne Nabs Rapid Engines

SevOne, a provider of performance monitoring systems, has acquired RapidEngines, a maker of log analytics software for IT enterprises, service providers and app developers.

SevOne, which counts Comcast and Cablevision Systems as customers, said it marks the first acquisition since closing a $150 million investment from Bain Capital in January.

“The acquisition of RapidEngines will enhance SevOne’s customers’ ability to proactively identify and resolve performance issues by adding log data analytics to their troubleshooting process.” SevOne SVP and CTO Vess Bakalov said, in a statement. “Incorporating log analytics into SevOne’s all-in-one solution allows for deeper visibility within another dimension of performance management.” 

Financial terms of the deal were not disclosed. The transaction closed on March 27.