Data analytics company Splunk (SPLK) announced yesterday that it’s set to acquire VictorOps for $120 million. The deal is expected to complete by the end of fiscal Q2 2018, which is in July 2018. The company is expected to make payments in both cash and stocks.
According to Doug Merritt, the president and CEO of Splunk, “This gives on-call technical staff an analytics-driven platform to monitor issues, resolve incidents and continuously improve.”
In the chart above, we can see the acquisitions made by Splunk over the last five years.
Importance of the deal
The combination of Splunk’s data analytics platforms with VictorOps’s incident-management functions may help the company to quickly settle and avoid issues that could upset customer engagement. Splunk aims to build a customer-engagement platform to take care of all the problems surrounding customer interactions, thereby delivering faster service.
In the last few days, there have been a lot of acquisitions taking place in the IT industry. Microsoft (MSFT) bought GitHub for $7.5 billion, while Accenture (ACN) is set to acquire German-based company designaffairs.