Cisco Systems attempted to acquire cloud monitoring software provider Datadog ahead of the startup's IPO, but Datadog declined the $7 billion-plus buyout offer, according to Bloomberg.
Datadog is expected to go public on Thursday, September 19. The company specializes in cloud, application and infrastructure monitoring software.
According to Bloomberg: The company this week boosted its IPO price range to $24 to $26 per share from $19 to $22 per share, according to a filing, valuing it at as much $7.5 billion at the top of that range. The IPO is expected to price Wednesday.
- Related: Datadog IPO Financial details are here.
Datadog's key rivals on some fronts include Cisco's own AppDynamics along with Dynatrace, New Relic, SignalFX, SolarWinds and other companies that provide various cloud monitoring tools. Much of the industry has focused on infrastructure and application performance monitoring (APM). But more recently, the conversation has shifted to digital experience monitoring (DEM).
Datadog apparently declined the Cisco takeover offer because the startup believed its long-term prospects are better than a near-term $7 billion-plus valuation from the networking giant, the Bloomberg report says.
ChannelE2E has not independently confirmed the Bloomberg report.
