$1.9 billion big data company Talend is acquiring a Philadelphia-based startup for $60 million to give it leverage in the cloud wars
- Talend, a $1.9 billion big data company, announced Wednesday it plans to acquire the data startup Stitch for $60 million.
- Talend believes this acquisition - its largest to date - will speed up its cloud momentum, as Stitch makes it easier for users to move data.
- Talend also believes this acquisition will make it a stronger partner to data warehousing services from the likes of AWS, Azure, Google, and Snowflake.
Big data company Talend announced Wednesday that it will acquire the two-year-old data startup Stitch for $60 million in its largest acquisition to date, in hopes that this acquisition will help it land new cloud customers.
"It brings an exciting new capability to us," Mike Tuchen, CEO of Talend, told Business Insider. "It has really lined up with how customers are choosing to buy in today's cloud-central world."
Stitch, based in Philadelphia, makes it easy for customers to move data to cloud data warehouse platforms. Often, small businesses don't have the bandwidth to quickly load this data, or they don't have the expertise to do it, as it can be a complicated task and may require the help of data integration specialists.
"We're a world right now where every company is trying to figure out how they can unlock the power of their data," Tuchen said. "Until they solve those types of problems, they can't unlock the power of their data."
Essentially, Stitch aims to provide a simple, point-and-click tool that lets any of its users easily move data to cloud warehouses. Under Talend, Stitch will be rebranded as the Stitch Data Loader.
The origins of Stitch go back to another company called RJMetrics, which sold itself to ecommerce company Magento in 2016. At the time that acquisition was announced, RJMetrics announced that it would rebrand its Pipeline tool as Stitch and spin it out as its own company. Earlier this year, Adobe bought Magento for $1.7 billion.
"Talend is an ideal fit for Stitch. Their products complement ours, and they share a similar culture and market vision," Jake Stein, co-founder and CEO of Stitch said in a statement.
"The move to the cloud and data-driven business is changing the integration market, bringing new users with different needs. With the combination of Talend and Stitch, we will become the only vendor that can we believe serves all levels of the market and all users of cloud analytics."
When Talend first went public in 2016, its stock soared over 50 percent in the first day of trading. It is now valued at $1.9 billion.
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