An Irish company which emerged from University College Dublin's campus innovation centre Nova has been acquired in a deal worth $68m, or about €59.7m at today's exchange rate.

Logentries, co-founded by Trevor Parsons and Viliam Holub and now headquartered in Boston, has been bought by Rapid7. 

Logentries collates and analyses data produced by software applications within organisations to help them run their systems more efficiently.

Under the terms of the deal, Logentries said nearly all of its staff have now joined Rapid7 including all its engineering and development team in Dublin.

The purchase price is made up of $36m in cash and $32m in Rapid7 stock split between 39 staff in Logentries.