Aleri Inc., a Chicago-based provider of complex event processing for the financial services market, has acquired Mountain View, Calif.-based rival Coral8. No financial terms were disclosed. Aleri has raised over 430 million in VC funding since 1999, from firms like Allegra Partners, Early Stage Enterprises and St. Paul Venture Capital.
Aleri and Coral8, two leading providers of complex event processing (CEP) software and solutions, today announced that they have joined forces to expand the reach and increase the speed of innovation for next-generation, real-time event processing technology and solutions. The combined product family will offer an exceptionally comprehensive software suite for developing, implementing and delivering real-time analytics and Continuous Intelligence for time-critical business decisions.
The merger between Aleri and Coral8 creates one of the broadest customer bases of CEP users, with clients across an extensive range of industries and deeply rooted in multiple sectors of the capital markets. Aleri and Coral8 customers and partners will benefit from having access to a wide product range of tools and solutions with proven functionality, performance, and scalability, from a company with a global footprint and support organization. Additionally, the company is able to offer deep vertical industry expertise in capital markets as well as horizontal technology expertise in event processing and solutions that deliver real-time analytics to other markets such as e-commerce, energy management, logistics and more.
“The combination of Coral8’s powerful development language and ease of use with Aleri’s superior financial market expertise and solutions makes for a very strong product offering,” said Marc Adler, Director and Chief Architect of Equities IT of Citigroup. “The joint company will provide tremendous value to financial companies and any other organization looking to implement CEP application solutions.”
“The combination of the two organizations makes sense because it marries two companies with little overlap in their strengths, creating an opportunity to move CEP into areas where financial services firms will need more agility and faster intelligence gathering (and response) capabilities,” said Adam Honoré, a senior analyst at Aite Group, LLC.
The merger accelerates the Aleri and Coral8 strategic initiatives to deliver products which reach beyond CEP to provide a range of tools and solutions that make it easy for customers to achieve Continuous Intelligence, giving them a competitive edge in a rapidly changing marketplace. The combined product offering includes;
Powerful, real-time data analysis delivered through an enterprise–class Complex Event Processing software platform.
High performance CEP capabilities: no other CEP vendor has published verifiable performance benchmarks that exceed the Aleri performance data published by STAC
Detailed , live multidimensional analytics of live data sets for roll-up and drill-down delivered via fast, open, real-time OLAP software
An easy to use and deploy web-based dashboard application that delivers personalized, up-to-the-moment results to users
Rapid results and ROI through packaged solutions and frameworks which solve specific business needs
A choice of authoring environments for different skill sets and user preferences which speed the development and implementation process
“We are very excited about the tremendous capabilities this merger will bring to all of our customers and partners,” said Don DeLoach, CEO of Aleri. “By combining the two companies we are able to provide an incredibly rich product offering with proven scalability and performance and a broad range of capabilities that help our customers achieve their goals faster. We believe this puts us in a strong position to secure market leadership in an industry that currently has no clear market leader.”
The merged company will operate under the Aleri name. Don DeLoach will remain CEO of the merged operations, while Terry Cunningham, former CEO of Coral8, will become the Chairman of the Board for Aleri.
“Through this merger we will expand the reach of CEP software and Continuous Intelligence both around the globe and into innovative new solutions,” said Terry Cunningham, CEO of Coral8. “Our expert team will help deliver Continuous Intelligence solutions that will create agile, responsive organizations in the new global economy.”
About Coral8 Based in Mountain View, Calif., Coral8, Inc. is a leading provider of Complex Event Processing (CEP) software and Continuous Intelligence™ solutions. Bringing together high-performance, innovative SQL-based programming and modeling and enterprise-class scalability and availability, Coral8 Engine™ is the fastest, most economical way to deploy powerful, sophisticated Continuous Intelligence™ that drives faster decisions and actions that positively impact revenue, customer service and operational efficiency. Coral8 is speeding the delivery of critical business information for customers worldwide, including Fortune 500 companies and global leaders within financial services, e-commerce, telecommunications, transportation, government and other rapidly growing vertical applications. For more information, visit www.coral8.com or call (650) 210-3810.
Aleri, a leading provider of enterprise-class complex event processing (CEP) technology and CEP-based solutions for financial services, provides a high performance platform to get applications up and running quicker, without compromising data management, scalability, performance, or security. Built for high throughput with minimal latency, Aleri’s event processing technology allows customers to analyze and respond instantly to high-volume, high-speed data to minimize risk and increase competitive advantage.
Aleri’s CEP powered solutions help translate real-time data into insight, enabling the financial industry to respond faster to changing conditions and to make better decisions through more timely information. The Aleri Liquidity Management System leverages the power of CEP to provide end-to-end real-time management of cash and liquid assets to reduce short term liquidity risk and ensure optimal funding. The Aleri Market Liquidity Analysis engine consolidates and analyzes multiple order book feeds from individual exchanges to provide a powerful tool for trading in fragmented markets.
Aleri is a global company headquartered in Chicago with offices in New York, New Jersey, London, and Paris. For more information, visit www.aleri.com.