In a massive technology, market and business expansion, Hoboken-based OpenVault on Thursday said it acquired VelociData Inc.
The deal will combine OpenVault’s product portfolio and analytics expertise with VelociData’s research and development capabilities and Tier 1 footprint in the U.S. and Latin America.
OpenVault and its subsidiary, OpenVault Europe, provide cloud-based and on-premises solutions and tools that help service providers optimize network performance, increase revenue and improve subscriber satisfaction. VelociData uses innovative stream computing paradigms to enable real-time capture of and prescriptive automation on immense amounts of data, as well as data correlation.
“The broadband environment is changing so quickly that it seems like each time we help our customers solve one data problem, a new one crops up,” said Mark Trudeau, founder and CEO of OpenVault. “VelociData’s focus on engineering and R&D gives us the resources and the synergies that will enable our product and sales teams at any scale to provide even more advanced solutions that will keep the broadband industry ahead of the fast pace of technology, consumer demand and the competition.”
The acquisition provides significant benefits to OpenVault, including:
- Immediate increases in the size and scale of its market footprint, both in the U.S. and internationally;
- Valuable intellectual property — notably a vast portfolio of more than 120 patents worldwide — in the area of data science;
- A proven, world-class team dedicated solely to research & development for accelerated availability of new products and solutions targeted specifically to the broadband industry;
- Acceleration of the strategy to provide additional Closed Loop Automation solutions such as the Profile Management Application, and enhanced data collection functionality, such as Streaming Telemetry;
- Diverse deployment options for operators, including public cloud, private cloud, on-premises and appliances.
“Whether it’s better performance or subscriber usage insights, real-time data is the key to unlocking more value from broadband networks,” said Barry Rudolph, CEO for VelociData. “As part of the OpenVault organization, we will be able to help broadband providers not only to collect network data, but also to make that data actionable in ways that will immediately improve bottom line results while enabling future shifts to more highly automated intelligent networks.”
