Complex event processing (CEP) software makers Aleri and Coral8 have merged. While the companies' CEP engines will continue to be offered separately, the long-term anticipation is that the two CEP engines will converge.
Based in Chicago, Aleri is the producer of Aleri Live OLAP, as well as the Aleri Liquidity Management System, which uses CEP to provide end-to-end real-time management of cash and liquid assets, and the Aleri Market Liquidity Analysis engine, which consolidates and analyzes multiple order book feeds from individual exchanges. Aleri uses visual dataflow modeling techniques.
Coral8 is the maker of the Coral8Portal and the Coral8CEP engine. The company, like Aleri has focused on real-time enterprise applications sometimes described as ''Continuous Intelligence'' solutions. The Coral8 engine is enabled via SQL-based programming and modeling. Coral8 is headquartered in Mountain View, Calif.
Both companies have footprints in financial trading applications, though both have looked to expand into other verticals. With the financial industry in the midst of unprecedented consolidation, mergers like this have been expected among trading-oriented software makers.
Company representatives indicate they continue to see a trend toward convergence of CEP with Business Intelligence, or Online Analytical Processing (OLAP). Regardless of Wall Street cutbacks, they say, CEP is useful as it allows firms to develop and deploy applications that deal with the speed of the market, volatility, and rapidly changing risk exposure. Too, increasing regulatory and compliance requirements are expected to increase the value of CEP software.
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.