The surge in information firm acquisitions continued Monday with Snowflake’s buy of Crunchy Information.
Cloud information platform Snowflake introduced its intent to amass Crunchy Data, a Postgres database associate, late this afternoon. A supply conversant in 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 newest in a string of tech giants shopping for information startups to bolster their underlying database choices that energy AI brokers. Final 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 offer its prospects entry to AI brokers that might run on prime of structured information. And earlier this month, ServiceNow acquired Information.World with AI brokers in thoughts.
Crunchy Information offers firms the instruments they should construct with Postgres, an open supply and object-relational database administration system that’s fashionable with builders and works nicely with the SQL database language. The 13-year-old firm works with shoppers together with UPS, SAS, and Moneytree, amongst others, along with public sector organizations just like the U.S. Division of Homeland Safety.
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 can be out there 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,” stated Vivek Raghunathan, SVP of engineering at Snowflake, in a press launch supplied to TechCrunch. “Right this moment’s announcement of our proposed acquisition of Crunchy Information represents one more reason why Snowflake is the last word vacation spot for all enterprise information and AI wants. We’re tackling a large $350 billion market alternative and an actual want for our prospects to carry Postgres to the Snowflake AI Information 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 12 months.