German veteran enterprise software company Software AG – which is celebrating its 55th anniversary – is bringing another company into its fold: San Francisco-based StreamSets, which offers an enterprise-grade data integration platform to its customers for eight years. In announcing the acquisition, StreamSets AG touted StreamSets’ “large and rapidly growing” SaaS business and rapidly growing revenue.
StreamSets’ platform is billed as a “single, fully managed, end-to-end platform for intelligent data pipelines”, providing a unified design experience across data models and pipeline support hybrid and multi-cloud. Its clients include major players such as Shell, IBM, GSK and BT.
Software AG plans to make the acquisition for 524 million euros (approximately US$580 million). The company says StreamSets’ data integration platform is a natural complement to Software AG’s existing digital business platform, which includes an in-memory database; a complex event processing engine; an integration engine; a process engine; a task engine; and a visual analysis engine. The acquisition will mark Software AG’s entry into the cloud data integration segment of the data integration market.
Software AG plans to capitalize on the acquisition of StreamSets in four ways: first, through revenue growth; second, by selling StreamSets products to existing Software AG customers; third, by developing common solutions, starting with the integration platform as a service (IPaaS) space; and fourth, leveraging its economies of scale to streamline StreamSets’ growth.
“This acquisition is a major milestone for Software AG,” said Sanjay Brahmawar, CEO of Software AG. “We are acquiring a growing business in a 26% growing cloud market. His technology and team will further differentiate our hybrid integration offering for customers and fully complement our strategy to deliver sustainable profitable growth. In [StreamSets CEO] Girish and the entire StreamSets team, we welcome exceptional colleagues with a history of innovation and success. Their base in California also expands our presence in North America, and I’m extremely excited to work with them to grow our business together.
Software AG, which is listed on the Frankfurt Stock Exchange, operates primarily in Europe but has customers around the world.
“We are thrilled to join the Software AG family and work with Sanjay and his team on this next phase of our growth journey,” said Girish Pancha, CEO of StreamSets. “Our products are made for each other, and we see tremendous opportunity in the convergence of application integration and data integration to deliver intelligent applications. I admire Software AG’s transformation from afar, and together I believe we will accelerate our growth trajectory by unleashing digital transformation for our customers.
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