Software AG to Acquire StreamSets
Veteran German enterprise software company Software AG — coming up on its 55th anniversary — is bringing another company into its fold: San Francisco-based StreamSets, which has been offering an enterprise-grade data integration platform to its customers for the past eight years. In announcing the acquisition, StreamSets AG touted StreamSets’ “sizable and fast-growing” SaaS business and its rapidly growing revenue.
StreamSets’ platform is billed as a “single, fully managed, end-to-end platform for smart data pipelines,” offering a unified design experience across data patterns and support for hybrid and multi-cloud pipelines. Its customers have included major players like Shell, IBM, GSK, and BT.
Software AG is planning to make the acquisition for €524 million (roughly $580 million USD). The company says that StreamSets’ data integration platform is a natural fit for Software AG’s existing Digital Business Platform, which includes an in-memory database; a complex event processing engine; an integration engine; a process engine; a task engine; and a visual analytics engine. The acquisition will mark Software AG’s entry into the cloud data integration segment of the data integration market.
Software AG plans to capitalize on the StreamSets acquisition in four ways: first, through its revenue growth; second, by selling StreamSets products to existing Software AG customers; third, through the development of joint solutions, starting in the integration platform as a service (IPaaS) space; and fourth, by leveraging its economies of scale to streamline StreamSets’ growth.
“This acquisition is a major milestone for Software AG,” said Sanjay Brahmawar, CEO of Software AG. “We’re acquiring a fast-growing business in a cloud market growing 26%. Its technology and team will further differentiate our hybrid integration offering for customers and fully complement our strategy to deliver sustainable profitable growth. In [StreamSets CEO] Girish and the whole StreamSets team, 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.”
Software AG, which is traded on the Frankfurt Stock Exchange, predominantly operates in Europe, but has customers around the world.
“We’re delighted to be joining the Software AG family and working with Sanjay and team on this next phase of our growth journey,” said Girish Pancha, CEO of StreamSets. “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.”