Hewlett Packard Enterprise (HPE) has announced its intention to acquire IT operations management (ITOM) services provider OpsRamp for an undisclosed sum to enhance its GreenLake capabilities.
ITOM software and services are used to manage enterprise IT – monitoring the capacity, performance and availability of infrastructure and computing, network and application resources.
Founded in 2014 by Raju Chekuri and Varma Kunaparaju, San Jose-based OpsRamp provides an AIOps platform that specializes in monitoring, automating and managing IT infrastructure, cloud resources, workloads and applications in hybrid and multi-cloud environments.
“Integrating OpsRamp’s hybrid digital operations management solution with the HPE GreenLake edge-to-cloud platform—and supporting it with HPE services—will reduce costs across public cloud, colocation, and on-premises deployments,” the companies said in a joint statement stated in the statement.
HPE’s acquisition makes sense as the ITOM market continues to grow as IT environments become increasingly complex as enterprises adopt public and private clouds, edge computing infrastructure and large databases for machine learning.
According to analyst firm Gartner, the ITOM market is expected to reach $61.79 billion by 2026. According to IDC’s survey on multi-cloud adoption, 64% of surveyed enterprises said they use multiple cloud providers, making it challenging to manage the operational spread of their IT across heterogeneous cloud environments.
“Today’s customers are using different IT operating models and tools to manage multiple different cloud environments, which significantly increases the cost and complexity of digital operations management,” HPE Chief Technology Officer Fidelma Russo said in a press release.
HPE has been on an acquisition spree over the past few months. In January, it acquired security services firm Axis and Pachyderm – a company that provides software based on open source technology to automate reproducible machine learning pipelines for large-scale artificial intelligence applications. In February, the company acquired private cellular technology company Athonet.
OpsRamp is one of Hewlett Packard Pathfinder’s venture capital investments in 2020, having raised $57.5 million in investment to date. The company’s other major investors include Sapphire Ventures and Morgan Stanley Expansion Capital.
The acquisition is expected to be completed in July.