Acquisition will supercharge data engineering on Snowflake’s platform with simple, scalable, and cost-effective unstructured data ingestion in the AI Data Cloud
No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)--Nov. 20, 2024--
Snowflake (NYSE: SNOW), the AI Data Cloud company, today announced it has signed a definitive agreement to acquire Datavolo, the company built to rapidly accelerate the creation, management, and observability of multimodal data pipelines for enterprise AI1. With this acquisition, Snowflake will deepen its service in the ‘bronze layer’ of the data lifecycle and will deliver a simple way for data engineering teams to integrate all of their enterprise systems with Snowflake’s unified platform, where they can then unlock data for AI and ML, apps and analytics, and leverage the scale, performance, and built-in governance of the AI Data Cloud. Together, Datavolo and Snowflake will both simplify data engineering workloads and deliver unmatched data interoperability and extensibility - a building block for effective enterprise AI.
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Snowflake Agrees to Acquire Open Data Integration Platform, Datavolo (Graphic: Business Wire)
“Simplicity and time-to-value are core to Snowflake’s ethos. By bringing Datavolo into the Snowflake fold, we are expanding how much of the data lifecycle Snowflake captures - unlocking both simplicity and cost savings for our customers, without any sacrifice to data extensibility,” said Sridhar Ramaswamy, CEO of Snowflake. “We are excited to have the Datavolo team join Snowflake as we accelerate what is the best platform for enterprise data - unstructured and structured, batch and streaming - and dedicated to the success of the open source community.”
Powered by Apache NiFi, a project for secure data processing and distribution originally open sourced by the National Security Agency (NSA) and now used by more than 10,000 enterprises, Datavolo provides a single platform for automating and managing both structured and unstructured data flows between various enterprise data sources. Once fully integrated into the Snowflake platform, Datavolo will form the basis of Snowflake’s open and extensible connectivity platform for structured and unstructured data, allowing Snowflake to further its offering at the “bronze layer” for data engineering workloads. Users will be able to replace the complexity and maintenance burden of single-use, point-to-point connectors with fast, flexible, reusable pipelines that allow customers to more seamlessly move unstructured and structured data from cloud and on-premise sources to Snowflake’s AI Data Cloud. The fully managed connectivity layer can be seamlessly deployed inside Snowflake Virtual Private Cloud (VPC) and in customers’ own VPC through a Bring Your Own Cloud model.
“Data engineering at scale can be incredibly costly and complex, and our aim has always been to simplify experiences for our customers so they can achieve value faster,” said Joe Witt, Co-founder and CEO of Datavolo and co-creator of Apache NiFi. “By joining forces with Snowflake, we can empower our customers with the immense scale and radical simplicity of Snowflake’s platform, ultimately unlocking data engineering for more users.”
With its wide use across federal organizations, Snowflake’s acquisition of Datavolo also aims to accelerate Snowflake’s business in the public sector. Snowflake plans to continue to maintain & nurture the Apache NiFi project with the close of the acquisition, deepening its support of open standards and empowering both Snowflake customers and the NiFi community with full interoperability, regardless of where their data resides. NiFi users can benefit not only from Snowflake’s easy, efficient, and trusted data foundation for AI, but also from the unified security and governance of Snowflake’s fully managed platform.
Forward-Looking Statements
This press release relates to a pending acquisition of Datavolo, Inc. (“Datavolo”) by Snowflake. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding the anticipated benefits of the acquisition, and the anticipated impacts of the acquisition on our business, products, financial results, and other aspects of our and Datavolo’s operations. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to: the effect of the announcement of the acquisition on the ability of Snowflake or Datavolo to retain key personnel or maintain relationships with customers, vendors, developers, community members, and other business partners; risks that the acquisition disrupts current plans and operations; the ability of the parties to consummate the acquisition on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the acquisition; our ability to successfully integrate Datavolo’s operations; our and Datavolo’s ability to execute on our business strategies relating to the acquisition and realize expected benefits and synergies; and our ability to compete effectively, including in response to actions our competitors may take following announcement of the acquisition. Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this press release are included under the caption “Risk Factors” and elsewhere in our Form 10-Q for the fiscal quarter ended October 31, 2024 and other filings and reports we make with the Securities and Exchange Commission from time to time. Moreover, both we and Datavolo operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the acquisition, or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or our management's good faith belief as of that time with respect to future events. Except as required by law, we undertake no obligation, and do not intend, to update these forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
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About Snowflake
Snowflake makes enterprise AI easy, efficient and trusted. More than 10,000 companies around the globe, including hundreds of the world’s largest, use Snowflake’s AI Data Cloud to share data, build applications, and power their business with AI. The era of enterprise AI is here. Learn more at snowflake.com (NYSE: SNOW).
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1 Closing of the acquisition is subject to customary closing conditions.
View source version on businesswire.com:
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Media Contact
Danica Stanczak
Global Corporate Communications, Snowflake
press@snowflake.com
Source: Snowflake Inc.
