OpenVault, a source of revenue and network improvement solutions and data-driven actionable insights for the broadband industry, has announced the acquisition of VelociData.
OpenVault says the acquisition will combine its product portfolio and analytics expertise with VelociData’s research and development capabilities and Tier 1 footprint in the US and Latin America to boost solution capabilities for cable, fibre, and wireless broadband operators.
“The broadband environment is changing so quickly that it seems like each time we help our customers solve one data problem, a new one crops up,” said 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.”
“Whether it’s better performance or subscriber usage insights, real-time data is the key to unlocking more value from broadband networks,” added Barry Rudolph, CEO for VelociData. “As part of the OpenVault organisation, 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.”
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.