Computing technology producer IBM has agreed to acquire Instana, a US-based application performance monitoring platform spun off by software development technology provider Codecentric, for an undisclosed amount.
Spun off by Codecentric in 2015, Instana has developed software that allows businesses to manage their cloud-native applications across a number of digital platforms. Its enterprise observability platform also provides insights on how to prevent and address IT issues.
IBM said the acquisition will support its artificial intelligence-powered automation capabilities and facilitate the integration of Instana’s product into its recently launched AI-equipped issue resolution software product, Watson AIOps.
Mirko Novakovic, Instana’s co-founder and CEO, said: “Instana’s observability capabilities combined with IBM’s AI-powered automation capabilities across hybrid cloud environments will give clients a full view of their application performance to best optimise operations.”
Instana raised $30m in a Meritech Capital-led series C round in late 2018, with commitments from Accel and Target Partners, to increase its overall funding to $57m.
Accel led the company’s $20m series B round in 2017, the year after it took part in a $6m series A round led by Target Partners and backed by Codecentric.