03:06 PM EDT, 04/05/2024 (MT Newswires) -- Cloudflare ( NET ) said Friday it has entered into the observability market with the acquisition of Baselime, a cloud-native observability platform.

The acquisition will enhance observability tools within Cloudflare's ( NET ) developer platform to keep pace with the evolving needs of modern web applications, the company said.

Shares of Cloudflare ( NET ) were up about 3% in recent trading.

Price: 96.08, Change: +2.83, Percent Change: +3.04