Elastic Completes the Acquisition of Optimyze

Rhea-AI Summary

Elastic (NYSE: ESTC) has successfully acquired Optimyze, a platform specializing in continuous profiling of IT infrastructure, applications, and services. This acquisition aims to enhance Elastic's observability capabilities, integrating metrics, logs, traces, and continuous profiling to eliminate blind spots in IT ecosystems. Key Optimyze executives, including co-founders Thomas Dullien and Sean Heelan, will join Elastic. Financial terms of the deal remain undisclosed. This move positions Elastic to improve service quality and performance in complex distributed environments.

Positive

• Acquisition of Optimyze enhances Elastic's observability capabilities.
• Integration of continuous profiling will improve service quality and performance.
• Key Optimyze executives joining Elastic could facilitate smooth integration.

Negative

• None.

Elastic and Optimyze Join Forces to Deliver Continuous Profiling of Infrastructure, Applications and Services

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch and the Elastic Stack, today announced that it has completed the acquisition of Optimyze, an “always on” continuous profiling platform for infrastructure, applications and services to give customers a simpler way to get insights into their entire IT ecosystem and eliminate blind spots.

“We are excited to welcome the Optimyze team to Elastic as we join forces to accelerate our vision for unified, actionable observability,” said Shay Banon, founder and CEO, Elastic. “Optimyze enhances our observability capabilities by unifying the pillars of observability—metrics, logs and traces—with continuous profiling to help customers improve service quality and performance in complex distributed environments.”

Optimyze co-founder and CEO, Thomas Dullien, and co-founder and CTO, Sean Heelan, are among the key staff joining Elastic. Financial terms of the transaction were not disclosed.

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

About Elastic:

Elastic is a search company built on a free and open heritage. Anyone can use Elastic products and solutions to get started quickly and frictionlessly. Elastic offers three solutions for enterprise search, observability, and security, built on one technology stack that can be deployed anywhere. From finding documents to monitoring infrastructure to hunting for threats, Elastic makes data usable in real time and at scale. Thousands of organizations worldwide, including Cisco, eBay, Goldman Sachs, Microsoft, The Mayo Clinic, NASA, The New York Times, Wikipedia, and Verizon, use Elastic to power mission-critical systems. Founded in 2012, Elastic is a distributed company with Elasticians around the globe and is publicly traded on the NYSE under the symbol ESTC. Learn more at elastic.co.

Forward-Looking Statements

This press release contains forward-looking statements which include but are not limited to statements about future features and functionality. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102006144/en/

Jennifer Malleo

Elastic Public Relations

PR-Team@elastic.co

Source: Elastic N.V.

FAQ

What is the significance of Elastic's acquisition of Optimyze?

The acquisition enhances Elastic's observability capabilities by integrating advanced profiling technologies, ultimately improving service quality.

Who are the key executives from Optimyze joining Elastic after the acquisition?

Optimyze co-founders Thomas Dullien and Sean Heelan are among the key executives joining Elastic.

What are the expected benefits of the acquisition for Elastic's customers?

Customers can expect better insights into their IT ecosystems and improved performance through unified observability solutions.

When was the acquisition of Optimyze completed by Elastic?

The acquisition of Optimyze by Elastic was completed recently, though the exact date was not specified.

What is the stock symbol for Elastic?

Elastic is publicly traded under the stock symbol ESTC.