OpenVault, a source of revenue and network improvement services and data-driven actionable insights for broadband, has acquired VelociData Inc.
The deal will serve to combine OpenVault’s product portfolio and analytics capabilities with VelociData’s R&D abilities to enhance service offerings for cable, fiber and wireless broadband customers. The purchase marks a large technology, market and business expansion for OpenVault.
The acquisition will provide benefits to OpenVault including an increase in the size and scale of its market footprint, valuable intellectual property, a new team dedicated solely to R&D, diverse deployment options for operators and accelerated strategy of closed loop automation services.
“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.”