UCD tech spin-out Logentries snapped up in €60m deal

A UCD spin-out company has been acquired by a major US security data firm for $68m (€59.47m) in a cash and equity deal.

Logentries, which was co-founded in 2010 by Dr Trevor Parsons and Dr Viliam Holub as a spin-out from UCD’s Performance Engineering Lab, is a leading provider of technology which searches machine data, or information created by devices.

The company, which is headquartered in Boston with a significant research and development facility in Dublin, was snapped up in the multi-million euro deal by Rapid7, also with its headquarters in Boston.