Talend set to acquire Stitch to accelerate its cloud momentumIn a move designed to accelerate its cloud momentum, Talend has today announced it has entered into a definitive agreement to acquire Stitch
The acquisition of Stitch — the self-service cloud data integration platform — gives Talend both a strong solution for the cloud data warehouse market and a frictionless sales motion to land new cloud customers efficiently.
Stitch offers an easy-to-use service for moving data from popular sources to leading cloud data warehouse platforms.
“Stitch is a great addition that gives us a compelling offering in the market for simple, self-service integration for cloud data warehouses,” said Mike Tuchen, CEO, Talend. “In addition, we believe Stitch will work as an efficient high-volume way to acquire new cloud customers to whom we can market our advanced cloud solutions for data integration, transformation, cleaning, preparing and cataloging.”
Under the terms of the agreement, Talend will acquire Stitch for approximately $60 million, subject to certain transaction adjustments. The transaction is expected to close later in the fourth quarter subject to customary closing conditions.
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As companies standardise on using the cloud for analytics, users increasingly need to load cloud data warehouses and data lakes quickly.
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Most departments and small businesses lack the bandwidth and sometimes the skill set to use existing solutions, causing delays that lead to missed opportunities and poor customer experiences.
Stitch, which will be rebranded as Stitch Data Loader, overcomes these set of challenges by enabling a broader population of users, including data scientists, data and business analysts and engineers, to load data without relying on data integration specialists.
“Talend is an ideal fit for Stitch. Their products complement ours, and they share a similar culture and market vision,” said Jake Stein, co-founder and CEO, Stitch. “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”
Upon closing, Stein will become SVP of the Stitch business unit reporting directly to Talend, CEO, Mike Tuchen.
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The need to access data
According to the Gartner Group, the increase in new roles such as data scientist, data engineer, data steward and others that need access to data is expanding dramatically.
In fact, Gartner Group predicts that by “2020, the number of data and analytics experts in business units will grow at three times the rate of experts in IT departments, which will force companies to rethink their organizational models and skill sets”.
In addition to enhancing Talend’s product portfolio, the acquisition is expected to help strengthen Talend’s value proposition for cloud ecosystem partners including data warehouse partners such as AWS, Azure, Google, and Snowflake.
“Snowflake is pleased that two of our partners are joining forces,” Snowflake CEO, Bob Muglia said. “The combination of Talend and Stitch will provide Snowflake customers with some of the broadest data integration capabilities and help them move their workloads to Snowflake with confidence.”