Resolve Acquires FixStream for $24M
IRVINE, Calif., August 20, 2019 — Resolve Systems, the leading IT automation and orchestration platform, today announced the acquisition of FixStream, a pioneer in AIOps. The acquisition, expected to close by the end of September, will enable Resolve to offer the most robust IT automation platform available on the market by combining artificial intelligence insights into dynamic, hybrid IT environments with powerful automation capabilities that are purpose-built for the complexity of modern enterprises.
The unified platform will handle a wide array of IT operations – from AI-driven infrastructure mapping, operational data correlation, and predictive analytics to intelligently automating cross-domain actions based on those findings. This will enable customers to significantly improve infrastructure performance, reduce mean time to resolution (MTTR), increase IT operations efficiency, reduce alarm noise, and proactively and intelligently allocate resources for critical business services.
With 7x revenue growth over the last 24 months, FixStream is one of the fastest-growing AIOps platforms. Its proven solution provides automated dependency mapping that dynamically tracks the changing relationships between applications and the underlying infrastructure to aid in quickly diagnosing the root cause of performance issues and outages. It also leverages artificial intelligence and machine learning to analyze and contextualize large volumes of systems data, enabling the solution to detect patterns that predict future issues across the entire IT stack.
Ultimately, the long-term vision for the combined Resolve and FixStream solution is to aid customers in achieving the long-awaited promise of “self-healing IT.” Combining FixStream’s multi-layer visibility and predictive analytics with Resolve’s cross-domain, service-level automation capabilities will arm customers with an unparalleled ability to automatically predict, prevent, and fix issues autonomously. Leveraging dynamic dependency mapping and AI-driven insights to inform, auto-update, and trigger intelligent automation, Resolve will be able to deliver a closed-loop system of discovery, analysis, detection, prediction, and automation.
Acquiring FixStream enables Resolve to further tap into the market for AIOps solutions, which is seeing significant growth as IT teams cope with the conundrum of reducing IT costs while managing increasing complexity, including an exponential uptick in data volumes generated by IT infrastructure and applications. Gartner estimates the subsegment of the performance analysis market that includes AIOps, ITIM, and other monitoring tools will reach $5.7 billion in revenue worldwide by 2020.*
“We believe that FixStream’s AIOps and infrastructure mapping capabilities are a perfect marriage with Resolve’s enterprise automation platform, providing game-changing functionality that will enable customers to achieve unprecedented agility, speed and simplicity in IT operations,” said John Ferron, CEO of Resolve. “By combining our powerful, cross-domain automation with insights from FixStream’s artificial intelligence, we’ll be able to help IT teams accelerate their digital transformation journey.”
“Together, Resolve and FixStream offer IT organizations the complete automation platform they have been looking for. We’ve repeatedly heard the need for a solution that brings together best-in-class AIOps with proven, cross-domain automation capabilities and are thrilled to see this vision become reality,” said Sameer Padhye, CEO and founder of FixStream. “Beyond the synergies that exist within our products, we share the common goal of helping IT organizations address the challenges posed by modern IT infrastructure and improve service delivery.”
“Our research has shown that IT operations efficiency has become a critical priority for CIOs as their teams’ workloads continue to grow while staffing remains flat due to a shortage of skilled IT workers and shrinking budgets,” said Carl Lehmann, principal analyst at 451 Research. “Combining insights from artificial intelligence with automation technology enables enterprises to overcome these challenges and to manage the growing complexity of today’s hybrid IT environments while moving closer to the long-term goal of self-healing IT.”
*Gartner, Forecast: Infrastructure Software Markets, Worldwide, 2017-2023, 2Q19 Update, Vanitha Dsilva, et al., 1 July 2019
About Resolve Systems
Resolve is the #1 IT automation and orchestration platform, powering more than a million automations every day from simple, repetitive tasks to insanely complex processes that go well beyond what you imagine is automatable. With more than a decade of automation expertise, Resolve’s platform is purpose-built to enable today’s ITOps, NetOps, and SecOps teams to meet the growing demands on IT, achieve unprecedented efficiency and cost metrics, and drastically improve service levels through the power of automation. Resolve is majority owned by Insight Partners, a leading global venture capital and private equity firm investing in high-growth technology and software companies. See why the Fortune 1000, global MSPs, and the largest telcos on the planet trust their automation to Resolve. Learn more at resolve.io.
Source: Resolve Systems