Enterprise software provider Tibco Software has agreed to acquire SnappyData, a US-based in-memory data platform developer spun off from software development technology and services provider Pivotal, for an undisclosed amount.
SnappyData combines an in-memory platform with open-source Apache Spark big data processing software in a product that enables customers to stream, transact and analyse data, all in a single in-memory cluster.
The software also allows customers to perform live structured query language (SQL) analytics on static data sets and streams. It will complement Tibco’s Connected Intelligence Platform with enhanced analytics, data science, streaming and management capabilities.
SnappyData secured approximately $3.7m in a 2016 series A round co-led by Pivotal, GE Digital, a subsidiary of power and industrial technology producer General Electric, and investment firm GTD Capital, that remains its only disclosed funding.
Matt Quinn, chief operating officer at Tibco, said: “This acquisition aligns with our long-standing commitment to continued innovation and delivering the best possible solutions for our customers and partners.
“Together, Tibco and SnappyData provide the ultimate data management platform, making the Tibco Connected Intelligence platform one of the best solutions for driving real-time insights, such as predictive maintenance, anomaly detection, and more.”