Snowflake to purchase the crunchy data starting data about $ 250 million

Data analysis software maker Snowfall Monday said that he agreed to purchase crunchy data, a startup that provides a cloud -based database program. Snowflake will pay about $ 250 million, according to a person familiar with a matter that was not allowed publicly to talk about the deal.

The crunchy data sells access to an host version of the cloud from the open source posgresql database, which replaced MySQL as a more popular database in Stack Overflow’s Survey annual developers In 2023, the Crunchy Data service includes security and performance improvements compared to an open source symbol.

DATABRICKS Snowflake’s competition last month announced its intention to get a neon, whose program also depends on posgresql. About $ 1 billion. Snowflake also looked at the purchase of neon last year, but she moved away, according to a different person who added that crunchy data generates more than $ 30 million in annual revenue.

Neon did not immediately respond to a request for comment.

DATABRICKS and Snowflake depends on their deals for each of them to help them benefit from spending on companies to present artificial intelligence agents who are carrying out tasks on their own.

With crunchy data, Snowflake will soon provide early to the Postgresql database service, according to statement. The plan is to simplify the data transfer process to the snowflake with the new service so that customers can operate the queries more easily on more data supplies, according to Christian Kleinner, the CEO of the product at Snowflake.

Snowflake shares increased around 36 % so far this year. In May, STIFEL analysts have broke out the first -class Golf Scheffler, saying Snowflake had achieved “Scheffler Like Quarter & Guide”, bypassing unanimity with revenue growth by 25 % on an annual basis. STIFEL has a purchase classification on snowflake stock.

“We are helping our customers to build a strong foundation for the leadership of the AI ​​era for the agent,” Sridhar Ramaswamy CEO told analysts at a phone conference in May. “We continue to do this momentum, and you will see more of us in just a few weeks.”

Crocalized data was established in 2012 based in Charleston, South Carolina, with about 100 employees. Among the investors, Alsop Louie Partners, Gray Ventures, Harbert Growth Partners and Heachbit. Customers include Kyndryl, Thales, UPS And the US Department of Internal Security.

He watches: Snowflake participates in an increase of more than 7 % over a quarterly victory