Hewlett Packard Enterprise (HPE) has announced its intent to acquire OpsRamp, an IT operations management (ITOM) services provider, for an undisclosed sum as it looks to boost its GreenLake capabilities.
ITOM software and services are used to manage enterprise IT — monitoring capacity, performance and availability of infrastructure as well as computing, networking, and application resources.
San Jose-headquartered OpsRamp, which was founded in 2014 by Raju Chekuri and Varma Kunaparaju, offers an AIOps platform that specialises in monitoring, automating and managing IT infrastructure, cloud resources, workloads and applications for hybrid and multicloud environments.
“Integrating OpsRamp’s hybrid digital operations management solution with the HPE GreenLake edge-to-cloud platform — and supporting it with HPE services — will reduce the operational complexity of multi-vendor and multi-cloud IT environments that are in the public cloud, colocations, and on-premises,” the companies said in a joint statement.
HPE’s acquisition assumes significance as the ITOM market grows due to the increasing complexity of IT environments as enterprises adopt public and private clouds, edge computing infrastructure, and large databases for machine learning.
The ITOM market, according to analyst firm Gartner, is expected to reach $61.79 billion by 2026. According to an IDC survey on adoption of multicloud adoption, 64% of polled enterprises said they use multiple cloud providers, thus making the ability to manage their IT operations sprawl across heterogeneous cloud environments challenging.
“Customers today are managing several different cloud environments, with different IT operational models and tools, which dramatically increases the cost and complexity of digital operations management,” said Fidelma Russo, HPE's chief technology officer, in a press release.
HPE has been on an acquisition spree in the last few months. In January, it acquired security services firm Axis and Pachyderm — a company that offers software based on open-source technology to automate reproducible machine learning pipelines that target large-scale AI applications. In February, the company acquired private cellular technology firm Athonet.
OpsRamp, which was one of Hewlett Packard Pathfinder’s venture capital investments in 2020, has raised $57.5 million in investment to date. Other lead investors in the company include Sapphire Ventures and Morgan Stanley Expansion Capital.
The acquisition is expected to close by July.