Snowflake to amass database startup Crunchy Information
The surge in knowledge firm acquisitions continued Monday with Snowflake’s buy of Crunchy Information.
Cloud knowledge platform Snowflake introduced its intent to amass Crunchy Information, a Postgres database associate, late this afternoon. A supply accustomed to the matter estimated the deal to be value 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 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 clients entry to AI brokers that might run on prime of structured knowledge. 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 in style with builders and works nicely with the SQL database language. The 13-year-old firm works with shoppers reminiscent of 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 clients, 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 probably be accessible in non-public preview quickly.
“Our imaginative and prescient is to ship the world’s most trusted and complete knowledge and AI platform to our clients,” stated Vivek Raghunathan, SVP of engineering at Snowflake, in a press launch offered to TechCrunch. “Immediately’s announcement of our proposed acquisition of Crunchy Information represents one more reason why Snowflake is the last word vacation spot for all enterprise knowledge and AI wants. We’re tackling a large $350 billion market alternative and an actual want for our clients to carry Postgres to the Snowflake AI Information Cloud.”
In 2024, Snowflake launched new connectors for Snowflake clients to PostgreSQL and MySQL. Now it’s bulking up that providing. Snowflake additionally acquired knowledge administration firm Datavolo final yr.