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Snowflake has acquired Crunchy Data, a provider of open-source PostgreSQL solutions, for approximately [openai_gpt model="gpt-4o-mini" prompt="Summarize the content and extract only the fact described in the text bellow. The summary shall NOT include a title, introduction and conclusion. Text: Snowflake has made a strategic move by acquiring Crunchy Data, a notable provider of open-source PostgreSQL solutions. This acquisition paves the way for the introduction of Snowflake Postgres, a managed PostgreSQL database tailored for AI and transactional workloads within the Snowflake AI Data Cloud. The deal, expected to finalize shortly, involves an investment of approximately 0 million, as reported by CNBC. This acquisition aims to enhance Snowflake's platform with Crunchy Data's operational expertise, compliance capabilities, and deep knowledge of PostgreSQL. In light of the growing demand for robust enterprise-grade Postgres solutions capable of supporting production-scale applications and AI systems, Snowflake asserts that Snowflake Postgres will empower developers with the full capabilities of open-source Postgres. At the same time, it will ensure the governance, security, and operational standards that enterprises require. Addressing Enterprise Challenges with Postgres PostgreSQL is a favored choice among developers due to its open-source nature, flexibility, and support for advanced features like vector embeddings. However, many enterprises encounter challenges with traditional Postgres deployments, particularly in areas such as security, compliance, and scalability. Snowflake emphasizes that managing sensitive data, powering critical AI applications, and operating within regulated industries necessitate robust security and compliance measures that exceed what is typically offered by platforms designed for rapid experimentation. With Snowflake Postgres, the company aims to tackle these challenges by providing a fully managed, secure, and compliant Postgres option seamlessly integrated into the Snowflake platform. This integration is anticipated to minimize operational silos and streamline development workflows. Expanding Use Cases for AI and Transactional Workloads Once operational, Snowflake Postgres will facilitate the use of Postgres-based applications without necessitating extensive code rewrites, while also fostering new development opportunities. Companies heavily invested in the Postgres ecosystem will find it easier to migrate and run existing applications on Snowflake without the need for significant modifications to their codebase. This new offering will complement Unistore, Snowflake’s solution for unifying transactional and analytical data, thereby broadening the scope of Snowflake's capabilities for AI workloads. Why Crunchy Data? Crunchy Data brings a wealth of experience in managed Postgres, Kubernetes-based deployments, and compliance-oriented infrastructure. Snowflake highlights that Crunchy Data’s strong commitment to developers and the open-source community, coupled with their readiness for enterprise applications, makes them an ideal partner for this endeavor. The Crunchy platform offers a range of features, including built-in metrics, connection pooling, logging support, and developer tools. Their solutions encompass managed cloud services, Kubernetes deployments, and on-premise options, showcasing their versatility in meeting diverse customer needs. Customer Reaction Initial feedback from Snowflake’s customer base indicates a positive reception towards the Postgres integration. Chris Burchett, SVP of generative AI at Blue Yonder, expressed enthusiasm, stating that incorporating PostgreSQL technology into the Snowflake ecosystem presents an opportunity for development teams to enhance and streamline benefits for their customers. Dan Maloney, CEO of Landing AI, remarked on the potential impact of having direct access to a PostgreSQL database within Snowflake, emphasizing that this integration could significantly simplify the process of building, deploying, and running AI applications on the Snowflake platform. Snowflake has articulated that this acquisition aligns with its long-term vision of establishing itself as the central hub for enterprise data workloads, further solidifying its position in the market." max_tokens="3500" temperature="0.3" top_p="1.0" best_of="1" presence_penalty="0.1" frequency_penalty="frequency_penalty"] million. This acquisition will lead to the introduction of Snowflake Postgres, a managed PostgreSQL database designed for AI and transactional workloads within the Snowflake AI Data Cloud. Snowflake Postgres aims to offer developers the full capabilities of open-source Postgres while ensuring necessary governance, security, and compliance for enterprises. The integration of Crunchy Data's expertise is expected to address challenges related to security, compliance, and scalability in traditional Postgres deployments. Snowflake Postgres will allow companies to run Postgres-based applications with minimal code changes and will complement Snowflake’s Unistore solution for unifying transactional and analytical data. Initial customer feedback has been positive, highlighting the potential benefits of this integration for development teams and AI applications.