TechTaffy

tech:

taffy

LogicMonitor receives $130M investment from Providence Equity Partners

By TechTaffy Desk

IT performance monitoring company LogicMonitor has received a $130 million investment from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm with $45 billion in assets under management. Thomas Reardon, managing Director at Providence Strategic Growth will join the LogicMonitor board.

“We’ll continue aggressive investments in new product enhancements to meet the fast-evolving dynamics of highly-technical, complex, and large IT operations environments,” said Kevin McGibben, CEO of LogicMonitor.

LogicMonitor provides SaaS (Software as a Service)-based performance monitoring, offering solutions to monitor on-premise, cloud, and hybrid datacenters from a single platform.

LogicMonitor is used by JetBlue, Trulia, Citrix, Zendesk, Pacific Life, and National Geographic, according to the company.

Just in

Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services. 
Industry

Intel appoints Kevin O’Buckley as SVP and GM of Foundry Services

Intel announced the appointment of Kevin O'Buckley as senior vice president and general manager of Foundry Services, the customer service and ecosystem operations division of Intel Foundry.
Industry

Squarespace to be acquired by Permira for $6.9B

Squarespace will be acquired by global private equity firm Permira in an all-cash transaction valued at approximately $6.9 billion.