With the acquisition, Software AG will enter the cloud data integration market segment. Here are the top-line bullets you need to know.
Software AG, a software development company, has acquired StreamSets, a data integration platform, for $581.7M. The deal is expected to close in H1’22.
WHO ARE THE PARTIES TO THE DEAL?
- StreamSets: California-based StreamSets provides enterprise-grade data integration tools to support data analysis. The company recently reported achieving a four-year revenue CAGR of more than 70%. Some of its clients include Humana, GSK, Shell, and IBM. The company has offices in San Francisco, Silicon Valley, and Barcelona.
- Software AG: Germany-based Software AG offers integration & API management, IoT & analytics, and business transformation products for enterprises. The company has over 10K clients and annual revenue of more than $869.4M — it plans to generate more than $1.09B in revenue by 2023. The company is supported by a team of over 4.8K employees across 70+ countries.
Source: StreamSets
WHY DOES THE MARKET MATTER?
- The global data integration market is expected to reach a value of $22.3B by 2027, growing at a CAGR of 13.88%, according to Verified Market Research.
- The global cloud data integration segment is expected to reach a value of $3.5B by 2025, growing at a CAGR of 26%, according to Software AG.
- Rising digitization and data generation across industries have increased the demand for data unification and analytics solutions.
