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.
Read more on Tech Gist Africa:
Valoreo Approaches Unicorn status with a $80M Series B
Medication Intelligence Platform Synapse Medicine Raises €25M
Payhawk adds an additional $100M to an already impressive $115M Series B round
