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Sumo Logic (Nasdaq: SUMO) has announced a definitive agreement to be acquired by affiliates of Francisco Partners for $12.05 per share in cash, valuing the company at approximately $1.7 billion. This price reflects a 57% premium over Sumo Logic's closing price on January 20, 2023. The transaction, unanimously approved by the Board, aims to enhance Sumo Logic's market opportunity and growth potential as it transitions to a private entity. The deal is expected to close in Q2 2023, subject to stockholder and regulatory approvals. Morgan Stanley is the financial advisor for Sumo Logic, while Francisco Partners seeks to drive innovation and growth in the cloud-native analytics space.
Sumo Logic (NASDAQ: SUMO) will present at the Needham Growth Conference on January 10, 2023, at 5:45 AM PT. This event highlights Sumo Logic's commitment to enabling reliable and secure cloud-native applications through its SaaS analytics platform. A webcast link will be available on the investor relations section of Sumo Logic's website. The company's Continuous Intelligence Platform™ is designed to enhance application reliability and provide insights into cloud infrastructures, making it integral for modern digital business operations.
Sumo Logic announces the launch of Sumo Logic Cloud SOAR in the AWS Tokyo region, expanding its security solutions in Asia-Pacific. This addition follows the previous release of Cloud SIEM in Japan, Australia, and India, enhancing the company's offerings to improve incident response and collaboration in security operations. The Open Integration Framework allows customers to easily integrate various security tools, boosting automation and customization. This move positions Sumo Logic as a key player in security solutions.
Sumo Logic (NASDAQ: SUMO) reported a 27% year-over-year revenue increase for Q3 FY2023, reaching $79.0 million, while Annual Recurring Revenue (ARR) grew 22% to $298.9 million. The company aims for improved operational efficiency, targeting cash flow break-even. Operating losses were significant, with GAAP operating loss at $27.3 million. The non-GAAP metrics show a net loss of $4.4 million. Looking ahead, Sumo expects Q4 revenue between $77.0 million and $78.0 million, reflecting 15-16% growth. Full-year revenue guidance is set at $298.0 million to $299.0 million.
Sumo Logic (NASDAQ: SUMO) announced its support for AWS Verified Access at AWS re:Invent 2022 in Las Vegas. This new service enables secure user access control for Amazon VPC applications without relying on a VPN. Sumo Logic enhances this service by providing security insights based on user and endpoint behavior. The integration aims to streamline investigations and accelerate threat detection. By correlating access data with other metrics, Sumo Logic's platform empowers enterprises to respond more efficiently to security incidents.
Sumo Logic has announced support for the launch of Amazon Security Lake at AWS re:Invent 2022. This cloud-native innovation centralizes security data from various sources, helping organizations manage and analyze log data effectively. Sumo Logic's solutions enhance security operations by providing cloud-native capabilities for detection and incident response, aiding enterprises in combating modern cyber threats. This collaboration exemplifies Sumo Logic's commitment to customer scalability and security, driving digital transformation in cloud environments.
Sumo Logic (NASDAQ: SUMO) announced its participation at the Barclays Global Technology, Media & Telecommunications Conference scheduled for December 8, 2022, at 3:05 PM PT. The event will feature a presentation from its management team, enhancing visibility within the investment community.
Investors can access the webcast via the investor relations section of Sumo Logic's website. The company provides a SaaS analytics platform supporting secure cloud-native applications, with a focus on reliability and security.
Sumo Logic (NASDAQ: SUMO) announced plans to report its third-quarter financial results for the period ended October 31, 2022, after market close on December 5, 2022. A conference call discussing the results and business highlights will be held the same day at 1:30 PM Pacific Time. Investors can access the call via phone or through a live webcast on the company's Investor Relations website.
Sumo Logic delivers a SaaS analytics platform that helps modern businesses manage cloud-native applications securely and reliably.
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