The surge in information firm acquisitions continued Monday with Snowflake’s buy of Crunchy Data.
Cloud information platform Snowflake introduced its intent to amass Crunchy Data, a Postgres database companion, late this afternoon. A supply accustomed to the matter estimated the deal to be price round $250 million.
The phrases weren’t disclosed. Snowflake declined to touch upon the deal’s valuation.
It’s the most recent in a string of tech giants shopping for information startups to bolster their underlying database choices that energy AI brokers. Last week, Salesforce acquired decades-old Informatica to fortify its information administration tooling for AI brokers. A number of weeks in the past, Alation acquired Numbers Station to present its prospects entry to AI brokers that would run on prime of structured information. And earlier this month, AssistanceNow acquired Data.World with AI brokers in thoughts.
Crunchy Data provides corporations the instruments they should construct with Postgres, an open supply and object-relational database administration system that’s common with builders and works nicely with the SQL database language. The 13-year-old firm works with shoppers resembling UPS, SAS, and Moneytree, amongst others, along with public sector organizations just like the U.S. Department of Homeland Security.
The acquisition will give Snowflake the underlying tech wanted to launch Snowflake Postgres, an enterprise-grade PostgreSQL database for its prospects, and companions together with Blue Yonder and LandingAI. This deal additionally additional bolsters Snowflake’s database choices within the age of AI brokers.
This tech might be obtainable in non-public preview quickly.
“Our imaginative and prescient is to ship the world’s most trusted and complete information and AI platform to our prospects,” mentioned Vivek Raghunathan, SVP of engineering at Snowflake, in a press launch supplied to TechCrunch. “Today’s announcement of our proposed acquisition of Crunchy Data represents another excuse why Snowflake is the final word vacation spot for all enterprise information and AI wants. We’re tackling an enormous $350 billion market alternative and an actual want for our prospects to carry Postgres to the Snowflake AI Data Cloud.”
In 2024, Snowflake launched new connectors for Snowflake prospects to PostgreSQL and MySQL. Now it’s bulking up that providing. Snowflake additionally acquired information administration firm Datavolo final yr.
