Rapid7, a Boston-based cybersecurity firm, announced Tuesday it has acquired a Boston-based provider of machine data search technology for $68 million.
The acquisition of Logentries will enable Rapid7’s information security teams to “solve a full range of security challenges, deeply investigate incidents, and more efficiently achieve their compliance requirements,” according to a release. The acquisition consisted of $36 million in cash and $32 million in Rapid7 (Nasdaq: RPD) equity, and was completed on Oct. 13.
The acquisition of Logentries will contribute between $4 million to $5 million in Rapid7’s 2016 revenue; that represents a fraction of Rapid7’s quarterly revenue, which in the second quarter of 2015 was $25.8 million, an increase of 44 percent year-over-year.
Logentries has 70 employees, most of whom have joined Rapid7 including all of the engineering and development employees at the company’s office in Dublin, Ireland. Rapid7 will continue to build this team and invest in its presence in Ireland, according to a release. For the full article click here
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