Interval Acquisition: Key Details, Impact, and What Comes Next

Meter's acquisition of Interval marks a significant milestone in the IT infrastructure industry. By integrating Interval's expertise in developing internal tools, Meter aims to enhance its operational efficiencies and customer experience. This strategic move underscores Meter's commitment to scaling its business operations during a period of high customer growth.

What Is Interval?

Founded in 2020, Interval offers a platform that enables developers to build internal tools using only backend Node.js code. Its core product eliminates the need for frontend development by automatically generating UIs from backend code. Unique in the market, Interval allows developers to leverage language-native features like async/await and type safety, and integrates seamlessly with existing codebases. This code-first approach simplifies the creation of internal tools, making it ideal for developers focused on backend development.

Who Acquired Interval?

Meter specializes in providing internet infrastructure solutions for enterprises, offering a vertically integrated approach that includes hardware, software, operations, and management. Key products include the Meter 11th Gen Security Appliance, Meter 2nd Gen Switch, and Meter Dashboard. Their services encompass network design, installation, and support. Positioned as a trusted provider, Meter is recognized for its performance, security, and reliability, with scalable solutions suitable for companies of all sizes.

When Was Interval Acquired?

Meter acquired Interval on November 2, 2023. This acquisition comes at a time when the IT infrastructure industry is increasingly focusing on automating internal workflows to enhance operational efficiencies and customer experiences. The timing aligns with a broader trend of companies integrating specialized platforms to scale their business operations and improve service offerings, particularly in the North American market. This strategic move underscores Meter's commitment to leveraging advanced tools for its next phase of growth.

Why Was Interval Acquired?

• Market Expansion: The acquisition of Interval by Meter is a strategic move to expand Meter's market presence, particularly in North America. By integrating Interval's tools and automation capabilities, Meter can enhance its internal operations and potentially offer new services to its customers. This move aligns with Meter's strategy to scale its business operations and improve customer experience during a period of high customer growth.
• Technology Integration: Interval's app development platform for internal tools will be integrated into Meter's tech stack. This integration is expected to automate internal workflows across Meter's business divisions, enhancing operational efficiencies and customer experience. The future plans include adding support for new runtimes like Deno, Workers, and Bun, which indicates a focus on expanding the technological capabilities and flexibility of Interval's tools.
• Competitive Advantage: By acquiring Interval, Meter gains a premier platform for developing internal tools, which is crucial for scaling and working with enterprise-level customers. The open-source development model for Interval can lead to faster innovation and customization, making Meter's offerings more attractive to businesses that require robust internet infrastructure and automation solutions. The support from Meter allows Interval to implement highly requested features, such as custom I/O methods, more efficiently, further strengthening Meter's competitive position in the market.

Acquisition Terms

• Acquisition Price: The acquisition price is undisclosed.
• Payment Method: The deal was a mix of cash and stock.
• Key Conditions or Agreements:
  • All members of the Interval team, including founder and CEO Alex Arena, are joining Meter.
  • Interval will continue development inside of Meter as an entirely open-source project.
  • Meter's support will allow Interval to implement new features and expand its capabilities.

Impact on Interval

The acquisition of Interval by Meter brings significant changes to operations and management. The entire Interval team, including founder and CEO Alex Arena, will join Meter, ensuring a seamless transition and continuity in development. Interval will now operate as an open-source project under Meter, which is expected to foster innovation and community contributions. This shift to open-source development aligns with Meter's strategy to enhance its internal workflows and operational efficiencies, leveraging Interval's expertise in backend development and automation.

Product offerings and services are set to expand with the integration of Interval's platform. Future plans include the release of a completely open-source edition of Interval, along with support for new runtimes like Deno, Workers, and Bun. These enhancements aim to improve customer experience by automating workflows and integrating disparate tools. Employee reactions have been positive, with excitement about the new possibilities under Meter's umbrella. Customers, particularly startups and engineers, are encouraged to continue building with Interval, anticipating improved features and support.

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