With this acquisition, Linkedln plans to tap into Oribi's technology and open an office in Israel. Here are the top-line bullets you need to know.
Linkedln, a professional networking website, has acquired Oribi, a business intelligence startup, for $80M to $90M.
WHO ARE THE PARTIES TO THE DEAL?
- Oribi: Israel-based Oribi develops marketing analytics tools. To date, it has analyzed over 22.9K funnels and tracked 187M unique users.
- LinkedIn: California-based Linkedln is a networking platform that connects professionals worldwide. It maintains a network of 810M members and 57M global businesses across over 200 countries. The company has over 18K employees across 33 global offices.
Source: Oribi
WHY DOES THE MARKET MATTER?
- The global data analytics market is expected to reach a value of $346.2B by 2027, growing at a CAGR of 30.7%, according to Market Research Future.
- The generation of increasing amounts of data across industries is contributing to market growth.
- The demand for solutions that enable remote data management has increased amid the pandemic.
