Darnstadt-based process management, data management, and consulting services provider Software AG has acquired dataops platform StreamSets for €524 million, plus a customary retention package awarded to the latter’s senior management team. The transaction is expected to close before H1 of this year.
As the first stop on Software AG’s M&A strategy to strengthen its position in a €61 billion total addressable market, the acquisition of StreamSets now gives the company entry to the cloud data integration sector. A sector that is seeing an annual growth rate of 26 percent, and is projected to reach $3.5 billion within the next three years.
As a demonstration of just how strong a feather this now represents in Software AG’s cap, StreamSets has seen revenues grow at a four-year CAGR of over 70 percent through 2021.
“This acquisition is a major milestone for Software AG. Its technology and team will further differentiate our hybrid integration offering for customers and fully complement our strategy to deliver sustainable profitable growth,” commented Software AG’s CEO Sanjay Brahmawar. “We are welcoming outstanding colleagues with a track record of innovation and success. Their base in California also extends our presence in North America, and I am incredibly excited at the prospect of working with them to grow our business together.”
On the purchase, StreamSets CEO Girish Pancha commented, “Our products are made for each other, and we see tremendous opportunity in the convergence of application integration and data integration to deliver smart applications. I have been admiring Software AG’s transformation from afar, and together, I believe we will accelerate our growth trajectory by unlocking digital transformation for our customers.”