OTTAWA – Martello Technologies Group is buying Amsterdam-based Savision B.V. for $11.9 million.
The Ottawa-based cloud management and bandwidth solutions company said Monday that the move extends its network and IT performance management capabilities and expands its sales presence in key European markets.
Founded in 2006 in the Netherlands, Savision provides enterprise software for the visualization of IT systems management data such as performance metrics, outage information and incidents. Its software is an ITOps solution that integrates and controls monitoring, cloud, and service management tools data in a single pane of glass, and is deployed in more than 50 countries.
Savision CEO Stefanie Richheimer will join Martello as chief revenue officer, effective upon final TSXV approval of the transaction.
"I'm delighted to welcome Stefanie and the entire Savision team to the Martello family", said Martello president and CEO John Proctor, in the news release. "We expect this acquisition to be accretive to Martello, as we expand our network and IT performance management capabilities and leverage a talented, globally distributed team with a track record of success".
