OpenVault, a market-leading source of revenue and network improvement solutions and data-driven actionable insights for the broadband industry, on Wednesday announced acquisition of VelociData.
The acquisition will combine OpenVault’s product portfolio and industry-leading analytics expertise with VelociData’s research and development capabilities and Tier 1 footprint in the United States and Latin America to turbocharge solutions capabilities for cable, fiber, and wireless broadband operators.
OpenVault and its subsidiary, OpenVault Europe, provide cloud-based and on-premises solutions and tools that help service providers optimize network performance, increase revenue, and improve subscriber satisfaction. VelociData uses innovative stream computing paradigms to enable real time capture of and prescriptive automation on immense amounts of data, as well as data correlation.
VelociData’s new streaming computing paradigms allow new approaches in integrating real time data, capturing source information from network environments of any size, and quickly diagnosing issues and deriving automated actions. Rather than the outmoded technique of landing and post processing data stores to gain valuable insights, VelociData allows for immediate insights to be derived, and actions to be defined and automated.
The VelociData acquisition is the first major event for OpenVault following a recent investment announced from three existing customers – Service Electric Cablevision, Service Electric Cable TV & Communications, and Blue Ridge Communications. The investment is targeted to drive expansion via mergers and acquisitions, organic growth, and increased visibility – most notably increased market activity in Europe and Latin America.
Mark Trudeau, CEO and Founder of OpenVault
VelociData’s focus on engineering and R&D gives us the resources and the synergies that will enable our product and sales teams at any scale to provide even more advanced solutions that will keep the broadband industry ahead of the fast pace of technology, consumer demand, and the competition.
Barry Rudolph, CEO for VelociData
As part of the OpenVault organization, we will be able to help broadband providers not only to collect network data, but also to make that data actionable in ways that will immediately improve bottom line results while enabling future shifts to more highly automated intelligent networks.
