Software AG finalizes acquisition of StreamSets to further accelerate rapid growth in hybrid integration
Mon, Apr 25, 2022
Software AG (Frankfurt MDAX®: SOW) today announced that it has closed the acquisition of StreamSets, following regulatory approval. The original terms of the agreement remain unchanged. Software AG has now added a fast-growing SaaS and subscription business and enterprise-grade data integration platform.
This combination enables organizations to better unlock and capture value from data as it moves between on-premise applications, data streams, SaaS applications, legacy data stores and cloud data platforms like Amazon RedShift, Databricks and Snowflake. The combined hybrid iPaaS platform will deliver consolidated, conformed, continuous data to smart applications and the connected enterprise.
Sanjay Brahmawar, Software AG CEO, commented: “We are delighted to see this deal close and begin the exciting journey ahead of us. We see tremendous opportunity to aggressively expand our position in the market by helping our customers solve bigger and more mission critical challenges than ever before. This acquisition is a hugely beneficial move focused on creating long-term value for our customers, employees, partners and our shareholders. We are welcoming outstanding colleagues with a track record of innovation and success to start changing the future of data driven businesses.”
Girish Pancha, CEO of StreamSets, said: “We are very excited to join the Software AG family. We will immediately begin our work together to finally show that application and data integration platforms can be merged together. We plan to wow our customers by bringing them something they have never seen before, and that will be the proof of our success.”
Software AG will benefit from StreamSets’ stand-alone growth; will sell StreamSets’ highly complementary products to its own hybrid integration customer base and look to develop combined offerings.
The original terms of the deal remain as agreed at signing. For more information on the financial specifics of the agreement, please see the Signing Day announcement here.
For more information on what the future of this joint proposition will look like, there is a new blog series online here.
Published on: 19.04.22
Article sourced from: https://newscenter.softwareag.com/en/news-stories/press-releases/2022/0419-streamsets-acquistion-finalized.html