Elastic Announces Intent to Acquire Opster

Rhea-AI Summary

Elastic (NYSE: ESTC) Acquires Opster, Creator of AutoOps, to Enhance Elasticsearch® Capabilities. Opster's platform provides deep insights to automatically detect and resolve issues with cluster health, improve search performance, and reduce hardware costs. The acquisition aims to make Elastic's cloud offering more fully-managed and easier to operate.

Elastic and Opster join forces to help users take charge of their search operations

SAN FRANCISCO--(BUSINESS WIRE)-- Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch^®, today announced an agreement to acquire Opster, the creators of AutoOps, a powerful platform that provides deep insight to automatically detect and resolve issues with cluster health, improve search performance, and reduce hardware costs.

“We are excited to welcome the Opster team to Elastic,” said Ken Exner, chief product officer, Elastic. “Opster will help our users get more out of their Elastic deployments and is part of multiple efforts underway to make our cloud offering more fully-managed and easier to operate.”

“Having been long-time users of Elasticsearch, we are extremely excited to join Elastic to take our vision to the next level,” said Ziv Segal, CEO, Opster. “Together, we will deliver capabilities that will enable users to streamline their search operations and get the most out of their Elasticsearch deployments.”

Opster co-founder and CEO, Ziv Segal, and key staff will be joining Elastic.

Financial terms of the transaction were not disclosed. Completion of the acquisition is subject to customary closing conditions.

For more information about Elastic and Opster, read the blog.

About Elastic:

Elastic (NYSE: ESTC) is a leading platform for search-powered solutions. Elastic understands it’s the answers, not just the data. The Elasticsearch platform enables anyone to find the answers they need in real-time using all their data, at scale. Elastic delivers complete, cloud-based, AI-powered solutions for enterprise security, observability and search built on the Elasticsearch platform, the development platform used by thousands of companies, including more than 50% of the Fortune 500. Learn more at elastic.co.

Forward-Looking Statements

Certain statements herein regarding the acquisition of Opster and the integration of and plans for its products and features are forward-looking statements that are subject to risks and uncertainties. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including, but not limited to risks and uncertainties related to successful integration of Opster's products into our offerings. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption "Risk Factors" and elsewhere in our most recent filings with the U.S. Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the fiscal year ended April 30, 2023 and other subsequent reports filed with the SEC. SEC filings are available on the Investor Relations section of Elastic's website at ir.elastic.co and the SEC's website at www.sec.gov. Elastic assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

The release and timing of any features or functionality described in this document remain at Elastic's sole discretion. Any features or functionality not currently available may not be delivered on time or at all.

Elastic and associated marks are trademarks or registered trademarks of Elastic N.V. and its subsidiaries. All other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114828867/en/

Elastic Public Relations

PR-Team@elastic.co

Source: Elastic N.V.

FAQ

What is the latest announcement from Elastic (NYSE: ESTC)?

Elastic has announced the acquisition of Opster, the creator of AutoOps, to enhance their Elasticsearch® capabilities.

What does Opster's platform offer?

Opster's platform provides deep insights to automatically detect and resolve issues with cluster health, improve search performance, and reduce hardware costs.

How will the acquisition benefit Elastic users?

The acquisition aims to help Elastic users get more out of their deployments and make the cloud offering more fully-managed and easier to operate.

Who will be joining Elastic as part of the acquisition?

Opster co-founder and CEO, Ziv Segal, and key staff will be joining Elastic.

What are the financial terms of the acquisition?

Financial terms of the transaction were not disclosed.