JF Shea-backed VictorOps agreed to acquisition by Splunk for approximately $120m in cash and stock.

VictorOps, a US-based IT incident management platform backed by property developer JF Shea, agreed to an acquisition by big data software developer Splunk yesterday for approximately $120m in cash and stock.

The transaction is subject to customary closing conditions and is expected to close during Splunk’s second quarter. The majority will be paid in cash, though Splunk did not offer further details.

Founded in 2012 as VictorOpx, VictorOps has created an incident management platform that helps IT staff solve problems proactively and collaboratively. The platform will be integrated into Splunk’s offering.

VictorOps previously closed a $15m series B round in December 2016 that included Shea Ventures, the corporate venturing unit of JF Shea, Foundry Group and Costanoa Ventures. Shea Ventures led the initial $12.2m tranche in November 2016.

Foundry Group had already led a $1.6m seed round in 2012 before returning for a $6.5m round in 2013 led by Costanoa. In 2015, Foundry and Costanoa co-led a $10.6m funding round.