U.S.-based data integration software startup Talend has announced it has entered into a definitive agreement to acquire self-service data integration platform Stitch, in a move designed to accelerate Talend’s cloud momentum.
Under the terms of the agreement, Talend will acquire Stitch for approximately $60 million in cash, subject to certain transaction adjustments.
The acquisition gives Talend both a strong solution for the cloud data warehouse market and a frictionless sales motion to land new big data and cloud customers efficiently. The transaction is expected to close later in the fourth quarter subject to customary closing conditions.
Talend said that it expects Stitch to work as an efficient high-volume way to acquire new cloud customers to whom it can market its advanced cloud solutions for data integration, transformation, cleaning, preparing and cataloguing.