Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx
Summary
San Francisco-based Splunk (NASDAQ: SPLK) says the acquisition will enable it to give businesses a real-time, panoramic view of the performance of their cloud-based applications, whether their data is crunched by on-premise office computers or in outside cloud-based servers. SignalFx was co-founded in 2013 by CEO Karthik Rau (pictured) and then-chief technology officer Phillip Liu, who is now a member of the company’s board of directors. The company used an analysis of aggregate data to distinguish actual app failures from those due to clients’ computer breakdowns. Both Splunk and SignalFx are competing in a big market for enterprise software that helps businesses to make the most of cloud-based applications sold on a subscription basis (SaaS), and to avoid problems such as security breaches. The company posted revenue of $517 million for the fiscal second quarter ending on July 31, a rise of 33 percent year-over-year.
