SaaS-based broadband data collection, analytics and applications development platform provider OpenVault reveals that it has purchased VelociData, Inc. for an undisclosed sum. The addition of VelociData will add software-based data acquisition and correlation capabilities to OpenVault’s portfolio as well as a complementary customer set that offers expansion opportunities, according to OpenVault ’s founder and CEO, Mark Trudeau.
The new capabilities VelociData’s technology and expertise provide will enable a more rounded product offering as well as a better foothold for OpenVault in such emerging applications as Profile Management Application (PMA) via closed loop automation as well as streaming telemetry, according to Trudeau. He described the process of integrating the capabilities of the two firms as “very straightforward” and expects to be able to market fully integrated offerings early next year. Some proposals that involve “co-packaging” are being put in front of certain customers in the meantime, Trudeau added.
The complementary nature of the two companies’ offerings creates significant cross-selling opportunities, according to Trudeau – particularly as OpenVault has had most of its success with Tier 2 and 3 operators while VelociData has enjoyed success with Tier 1 clients, including a new one in Latin America. The geographic markets in which the two companies have operated also are complementary, which will aid OpenVault’s international expansion aspirations.
While VelociData’s CEO Barry Rudolph will be moving on, OpenVault plans to retain VelociData’s engineering team and facilities in St. Louis and Denver. The added engineering horsepower will not only speed platform integration but accelerate new product development, Trudeau believes. VelociData’s more than 120 patents will aid this process as well.
The acquisition is the first major move by OpenVault since it received an infusion of an undisclosed amount of capital this fall from three of its customers, Service Electric Cablevision, Service Electric Cable TV & Communications, and Blue Ridge Communications. Trudeau says the funding not only paved the way for this deal but also will accelerate the company’s further expansion in Europe and Latin America.