Complex event processing vendors Aleri and Coral8 are to merge. Terms of the transaction have not been disclosed.
The combined companies have approximately 80 customers, three quarters of which are in the financial services industry.
The two companies say the merger will provide clients with a broad range of complementary products and services for developing, implementing and delivering real-time analytics and high-performance CEP capabilities.
The announcement has been welcomed by users. Marc Adler, director and chief architect of equities IT at Citigroup, says: "The combination of Coral8's powerful development language and ease of use with Aleri's superior financial market expertise and solutions makes for a very strong product offering."
The merged company will operate under the Aleri name. Don DeLoach will remain CEO of the merged operations, while Terry Cunningham, former CEO of Coral8, will take up the chairmanship.
Says DeLoach: "We believe this puts us in a strong position to secure market leadership in an industry that currently has no clear market leader."