portfolio

Snowflake announced its acquisition of Crunchy Data, valued at 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: The recent trend of data company acquisitions shows no signs of slowing down, as evidenced by Snowflake's announcement regarding its acquisition of Crunchy Data. This strategic move, revealed late Monday afternoon, is estimated to be valued at approximately 0 million, although specific terms remain undisclosed as Snowflake has opted not to comment on the deal's valuation. Strengthening Database Offerings This acquisition is part of a broader pattern among major tech companies seeking to enhance their database capabilities, particularly in support of AI applications. Just last week, Salesforce completed its acquisition of Informatica, a company with decades of experience, to strengthen its data management tools for AI. Similarly, Alation acquired Numbers Station to provide its customers with AI agents capable of operating on structured data. Earlier this month, ServiceNow also made headlines with its acquisition of Data.World, further emphasizing the focus on AI-driven solutions. Crunchy Data specializes in providing tools for developers working with Postgres, an open-source object-relational database management system that is well-regarded for its compatibility with SQL. Over its 13-year history, Crunchy Data has collaborated with notable clients such as UPS, SAS, and Moneytree, as well as various public sector organizations, including the U.S. Department of Homeland Security. The integration of Crunchy Data's technology into Snowflake's offerings will pave the way for the introduction of Snowflake Postgres, an enterprise-grade PostgreSQL database tailored for its customers and partners, such as Blue Yonder and LandingAI. This acquisition not only enhances Snowflake's database portfolio but also aligns with the growing demand for AI-driven solutions in the current technological landscape. Snowflake plans to make this new technology available in private preview shortly. Vivek Raghunathan, SVP of engineering at Snowflake, articulated the company's vision, stating, “Our vision is to deliver the world’s most trusted and comprehensive data and AI platform to our customers. Today’s announcement of our proposed acquisition of Crunchy Data represents another reason why Snowflake is the ultimate destination for all enterprise data and AI needs. We’re tackling a massive 0 billion market opportunity and a real need for our customers to bring Postgres to the Snowflake AI Data Cloud.” This acquisition follows Snowflake's launch of new connectors for PostgreSQL and MySQL in 2024, further expanding its capabilities. Additionally, Snowflake's acquisition of data management company Datavolo last year underscores its commitment to enhancing its data management offerings." max_tokens="3500" temperature="0.3" top_p="1.0" best_of="1" presence_penalty="0.1" frequency_penalty="frequency_penalty"] million, although specific terms are undisclosed. This acquisition aims to enhance Snowflake's database capabilities, particularly for AI applications, and will lead to the introduction of Snowflake Postgres, an enterprise-grade PostgreSQL database. Crunchy Data specializes in tools for developers working with Postgres and has collaborated with clients such as UPS, SAS, and the U.S. Department of Homeland Security. Snowflake plans to make the new technology available in private preview soon. This acquisition follows Snowflake's recent launch of new connectors for PostgreSQL and MySQL and its acquisition of Datavolo last year.