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David Beyer

This 5-year-old company started in a Dublin college has been sold for $68 million

Logentries was spun out of UCD in 2010.

TECH STARTUP LOGENTRIES has been sold in a deal worth $68 million (€59.6 million) only five years after it emerged from a research project in UCD.

Nasdaq-listed Rapid7 announced it was buying the company, which is now headquartered in Boston with a research-and-development team in Dublin.

Logentries was founded by UCD PhD graduate Trevor Parsons and Viliam Holub in 2010, and it has since grown to about 70 employees. The startup launch followed a decade of joint research between UCD’s performance engineering lab and IBM.

Rapid7, worth $905 million (€793 million) on its current share price, said nearly all of Logentries’ staff had now joined the parent company and it would “continue to build this team and invest in its presence in Ireland”.

N13372 Logentries founders Trevor Parsons, left, and Viliam Holub Nick Bradshaw Nick Bradshaw

Logentries collects and analyses reams of computer-generated log data, information which Parsons has described as being like CCTV for software networks.

Can you tell me how to get…

Companies, including clients that range from the Discovery Channel to Macy’s and Sesame Street, can use its technology to “cut through the noise” of data and quickly identify flaws in their systems.

Debate Social Media Sesame Street's Big Bird Associated Press Associated Press

Some 39 Logentries staff who became Rapid7 employees after the buyout were granted shares worth a combined $21 million (€18.4 million) in the public company as part of the deal.

Logentries was the 2010 startup of the year at NovaUCD, the college’s hub for new technology businesses.

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6 Comments
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    Mute Hólec Alfield
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    Oct 14th 2015, 11:22 AM

    Fair play! Absolute dream for the employees getting bought up.. pensions sorted now.

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    Mute Robyn Morton
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    Oct 14th 2015, 12:47 PM

    Selling up was a good idea, they thought, until they got The Count to do the finances…

    One dollar ah ah ah… Two dollars ah ah ah…

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    Mute Tom
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    Oct 14th 2015, 2:49 PM

    Story involved going to college…so only four people on thejournal.ie have commented.

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    Mute Maire Ui Riain
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    Oct 14th 2015, 10:42 PM

    Reflects the intelligence of the readership

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    Mute Vladimir Vasyectomy
    Favourite Vladimir Vasyectomy
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    Oct 14th 2015, 4:21 PM

    Great to see people being properly rewarded for their years of hard work and dedication.

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