US-based database software provider NuoDB agreed to an acquisition of undisclosed size by design software producer and minority shareholder Dassault Systèmes yesterday.
Dassault held a 16% share of the company but has agreed to acquire the remainder of NuoDB’s equity in a deal expected to close in December this year, both companies confirmed in a statement.
NuoDB provides a cloud-native distributed SQL database platform for use by data centres and enterprise customers. The acquisition is set to supplement Dassault’s 3D design and engineering software offering.
In December 2018, banking software provider Temenos led a $30m funding round for NuoDB that included Dassault, Hummer Winblad Venture Partners, Longworth Venture Partners and Morgenthaler Ventures, bringing its total funding to $95m according to the Boston Business Journal.
Existing investors including Hummer Winblad, Longworth and Morgenthaler had supplied $17m for the company in 2016, all three having joined Dassault in a $14.2m series B round two years previously.
NuoDB CEO Bob Walmsley said, “We have enjoyed our long-standing strategic relationship with Dassault Systèmes and are proud to serve their growing cloud customers installed base. This announcement marks an exciting new phase in our partnership and creates significant opportunities for NuoDB.
“With our combined, expanded resources, we can accelerate our product development to realise the unique contribution of multi-cloud, distributed SQL database as a service that will power strategic customers.”
