ITRS Group has acquired OP5, a Stockholm-based provider of IT monitoring and log analysis technology. Financial terms were not disclosed.
OP5 claims more than 600 enterprise clients - many of them in the FS industry - for its services, which promise to help IT staff gain control over their operations and provide insights to business owners for better decision making.
The Swedish firm will remain and operate as a separate brand and entity, fully owned by ITRS Group, with Jonas Vestin remaining as CEO.
The move boosts ITRS's monitoring and log file analytics offering and is in line with the company's strategy of bringing in expertise, following the recent acquisition of Sumerian and partnerships with Apica and Velocimetrics.
Guy Warren, CEO, ITRS, says: "ITRS and OP5 will continue to independently focus on their respective core markets while adding value to customers in areas such as capacity planning, network monitoring, log analysis and big data storage and analytics. This allows us to leverage our investment in R&D across a larger market and customer base."