The surge in knowledge firm acquisitions continued Monday with Snowflake’s buy of Crunchy Knowledge.
Cloud knowledge platform Snowflake introduced its intent to accumulate Crunchy Knowledge, a Postgres database companion, 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 knowledge startups to bolster their underlying database choices that energy AI brokers. Final week, Salesforce acquired decades-old Informatica to fortify its knowledge 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 might run on high of structured knowledge. And earlier this month, ServiceNow acquired Knowledge.World with AI brokers in thoughts.
Crunchy Knowledge provides firms the instruments they should construct with Postgres, an open supply and object-relational database administration system that’s standard with builders and works nicely with the SQL database language. The 13-year-old firm works with purchasers 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 will likely be out there in personal preview quickly.
“Our imaginative and prescient is to ship the world’s most trusted and complete knowledge and AI platform to our prospects,” mentioned Vivek Raghunathan, SVP of engineering at Snowflake, in a press launch supplied to TechCrunch. “As we speak’s announcement of our proposed acquisition of Crunchy Knowledge represents another excuse why Snowflake is the last word vacation spot for all enterprise knowledge and AI wants. We’re tackling an enormous $350 billion market alternative and an actual want for our prospects to deliver Postgres to the Snowflake AI Knowledge Cloud.”
In 2024, Snowflake launched new connectors for Snowflake prospects to PostgreSQL and MySQL. Now, it’s bulking up that providing. Snowflake additionally acquired knowledge administration firm Datavolo final 12 months.
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