Snowflake to buy database startup Crunchy Data for about $250 million

Data analysis software maker Snowflake said on Monday that he agreed to buy crunchy data, a startup that offers cloud -based database software. Snowflake will pay around $ 250 million, according to a person familiar with the question that was not authorized to speak publicly about the agreement.

Crunchy Data sells access to a version hosted in the cloud of the Open Source Postgresql database, which replaced MySQL as the most popular database in Stack Overflow’s Annual developer survey In 2023. The Crunchy Data service included safety and performance improvements compared to the standard open-source code.

Last month, last month, he announced his intention to acquire a neon, whose software is also based on PostgreSql, for About 1 billion dollars. Snowflake also planned to buy a neon last year but has moved away, according to a different person who added that crunchy data generates more than $ 30 million in annualized income.

Neon did not immediately respond to a request for comments.

Databricks and Snowflake are counting on their respective offers to help them benefit from business expenses to deliver artificial intelligence agents who carry out tasks by themselves.

With crunchy data, Snowflake will soon provide early access to a postgreSql database service, according to a statement. The plan is to simplify the data movement process in the snowflake with the new service so that customers can more easily perform requests on a larger data supply, according to Christian Kleinerman, executive vice-president at Snowflake.

Snowflake shares have increased by around 36% so far this year. In May, Stifel analysts compared the company to the high -level Golfer Scottie Scheffler, saying that Snowflake had delivered a “scheffler like Quarter & Guide”, exceeding consensus with a 25% income growth over the year. Stifel has a purchase rating on the snowflake stock.

“We help our customers build a solid base to lead to the agentic AI era,” CEO Sridhar Ramaswamy told analysts at a conference call in May. “We continue on this momentum, and you will see even more in a few weeks.”

Crunchy Data was founded in 2012 and is based in Charleston, in South Carolina, with around 100 employees. Investors include Alsop Louie Partners, Gray Ventures, Harbert Growth Partners and Heavybit. Customers include Kyndryl, Thales, Tall and the American Department of Internal Security.

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