View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Data
September 19, 2019

Datadog Rebuffed Cisco Buyout Before $7 Billion IPO

In the cloud auto-scaling servers die as quickly as they’re spawned, and containers come and go with even greater frequency

By CBR Staff Writer

Cloud log management specialist DataDog rebuffed a $7 billion-plus offer from Cisco prior to its IPO this week, Bloomberg reports, as the New York-based company sold $24 million shares Wednesday for $27 each, raising it $648 million.

The company, which now trades as DDOG on the Nasdaq exchange; the latest in a flurry of tech IPOs, felt it would be worth more as a public company over time, Bloomberg reported today, citing unnamed officials.

At the offer price, Datadog commands a market cap of a notable $7.8 billion.

DataDog has been among the month’s closely watched flurry of IPOs (see also Cloudflare, Ping Identity (which raised $188 million by offering 12.5 million shares at $15 today, and which will trade as PING).

The SaaS-based data analytics firm provides a monitoring service that bundles metrics and events from servers, databases, applications, tools and services to present a unified view of infrastructure.

The company explains its offering (it specialises in AWS monitoring, but can also track events through 100 other services, e.g. Oracle’s container engine for Kubernetes) as providing infrastructure monitoring and analytics that’s fit for the cloud era.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Credit: DataDog

“[In the cloud] auto-scaling servers die as quickly as they’re spawned, and containers come and go with even greater frequency…

“Instead of monitoring your servers as unique entities, [with DataDog] you can aggregate metrics to focus on different services, availability zones, instance types, software versions, roles or any other relevant dimension.”

Networking giant Cisco has announced a flurry of intended acquisitions – three in the past three months – recently.

These include customer experience management specialist CloudCherry (August 26), meeting transcription and voice search firm Voicea (August 6) and fabless semiconductor company Acacia Communications, Inc. (July 9) which specialises in high-speed optical interconnect products. The company also acquired privately held UK software specialist Ensoft for an undisclosed sum late last year.

Read this: Cisco Unveils New Programmable Wi-Fi 6 Stack, Developer Centre

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.