Boosts footprint with Tier 1 customers in the US and abroad and adds a world-class R&D team
Hoboken, NJ; Dec. 8, 2021 – OpenVault, a market-leading source of revenue and network improvement solutions and data-driven actionable insights for the broadband industry, today announced a massive technology, market and business expansion with its acquisition of VelociData, Inc.
The acquisition will combine OpenVault’s product portfolio and industry-leading analytics expertise with VelociData’s research and development capabilities and Tier 1 footprint in the United States and Latin America to turbocharge solutions capabilities for cable, fiber, and wireless broadband operators.
OpenVault and its subsidiary, OpenVault Europe, provide cloud-based and on-premises solutions and tools that help service providers optimize network performance, increase revenue, and improve subscriber satisfaction. VelociData uses innovative stream computing paradigms to enable real time capture of and prescriptive automation on immense amounts of data, as well as data correlation.
The acquisition provides significant benefits to OpenVault, including:
- Immediate increases in the size and scale of its market footprint, both in the United States and internationally;
- Valuable Intellectual Property – notably a vast portfolio of more than 120 patents worldwide – in the area of data science;
- A proven, world-class team dedicated solely to R&D for accelerated availability of new products and solutions targeted specifically to the broadband industry;
- Acceleration of the strategy to provide additional Closed Loop Automation (CLA) solutions such as the Profile Management Application (PMA) and enhanced data collection functionality, such as Streaming Telemetry;
- Diverse deployment options for operators including public cloud, private cloud, on-premises, and appliances.
“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.”
VelociData’s new streaming computing paradigms allow new approaches in integrating real time data, capturing source information from network environments of any size, and quickly diagnosing issues and deriving automated actions. Rather than the outmoded technique of landing and post processing data stores to gain valuable insights, VelociData allows for immediate insights to be derived, and actions to be defined and automated.
“Whether it’s better performance or subscriber usage insights, real-time data is the key to unlocking more value from broadband networks,” said Barry Rudolph, CEO for VelociData. “As part of the OpenVault organization, 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.
OpenVault and OpenVault Europe GmbH are market-leading sources of broadband technology solutions and data-driven insights into worldwide broadband consumption patterns. The companies’ cloud-based, SaaS solutions and tools help service providers optimize network performance, increase revenue and improve subscriber satisfaction. OpenVault and OpenVault Europe aggregate and analyze the resulting market data to provide unparalleled granular views of consumer usage that can be used to anticipate residential and business broadband trends.