Snowflake, a cloud data platform, announced on June 2 its plan to acquire Crunchy Data, a database startup. The deal is valued at approximately $250 million, though specific terms have not been disclosed. This acquisition is seen as a significant step for Snowflake in expanding its presence in the data market.
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Founded 13 years ago, Crunchy Data specializes in PostgreSQL databases and provides developers with tools to build applications based on PostgreSQL. PostgreSQL is a widely-used open-source object-relational database management system that supports SQL language. Crunchy Data's clients include prominent enterprises such as UPS, SAS, and Moneytree, as well as public sector organizations like the U.S. Department of Homeland Security.
This acquisition will help Snowflake launch "Snowflake Postgres," an enterprise-grade PostgreSQL database for its customers and partners like Blue Yonder and LandingAI. The technology is expected to offer private previews in the near future, marking another step for Snowflake in enhancing its database offerings to meet the demands of the AI era.
Vivek Raghunathan, Senior Vice President of Engineering at Snowflake, stated in a press release: "Our vision is to provide customers with the world’s most trusted and comprehensive data and AI platform. The proposed acquisition of Crunchy Data further strengthens Snowflake as the ultimate destination for enterprise data and AI needs. We are capitalizing on a $35 billion market opportunity to meet the real demand from customers to integrate PostgreSQL into Snowflake's AI Data Cloud."
As early as 2024, Snowflake introduced new connectors for PostgreSQL and MySQL. This acquisition further strengthens this product line. Additionally, last year, Snowflake acquired data management company Datavolo to enhance its data management capabilities.
With the continuous development of AI technology, Snowflake's strategic acquisition not only makes its database products more competitive but also provides customers with richer data processing solutions, further driving the development of cloud data platforms.
Key Points:
🌟 Snowflake plans to acquire Crunchy Data for approximately $250 million, further expanding its database business.
📊 Crunchy Data focuses on PostgreSQL, with clients including several well-known enterprises and public sector organizations.
🚀 The acquisition will enable Snowflake to launch an enterprise-grade PostgreSQL database, meeting the market demands of the AI era.