Big Data News Hubb
Advertisement
  • Home
  • Big Data
  • News
  • Contact us
No Result
View All Result
  • Home
  • Big Data
  • News
  • Contact us
No Result
View All Result
Big Data News Hubb
No Result
View All Result
Home News

MariaDB Goes Public with Closing of SPAC Deal

admin by admin
December 29, 2022
in News


MariaDB announced it has gone public through a SPAC deal and is now listed as “MRDB” on the New York Stock Exchange.

The completed merger with Angel Pond Holdings has resulted in MariaDB Plc, an Irish public limited company with dual headquarters in Redwood City, California and Dublin, Ireland. Michael Howard will continue to lead MariaDB as CEO, along with the current MariaDB management team.

“Today is an exciting day that marks a new chapter for MariaDB and an important milestone in the cloud industry,” said Michael Howard, CEO of MariaDB plc. “Our customers increasingly come to us because they are struggling with the scalability and availability offered by the hyperscalers. With MariaDB SkySQL, we deliver better price and performance while freeing businesses from vendor lock-in with a multi-cloud offering. I am incredibly proud to work with our talented team and our investors as we continue to build success in the cloud for companies around the world.”

The SPAC company Angel Pond was founded by former Goldman Sachs partner Theodore T. Wang, Ph.D., and Shihuang “Simon” Xie, who co-founded Alibaba. Wang joined MariaDB’s board of directors as part of the deal.

“I am thrilled to bring MariaDB to the public market. The MariaDB database is one of the most popular and is proving to be a critical ingredient for businesses’ success in their cloud transformations. With MariaDB’s differentiated product offering and extensive experience building world-class databases, the company is positioned well to support the tidal wave of cloud database migrations that are only just beginning,” said Wang in a statement.

MariaDB was founded in 2009 as a fork of MySQL after being acquired by Oracle as part of the Sun Microsystems acquisition. Its SkySQL open source database is a fully managed cloud database service where customers can deploy and manage the company’s products including MariaDB Enterprise Server, Xpand distributed SQL, ColumnStore, and Serverless Analytics powered by Apache Spark SQL.

The intent to go public via this SPAC deal was announced in February along with a $104 million Series D venture round, giving the company an implied value of $672 million at the time. The company’s market capitalization was $368 million upon its trading debut this week.

Some have said MariaDB made this deal just in time. SPAC deals such as this one seem to be slowing down. According to S&P Global Market Intelligence data, there were 78 SPAC IPOs in the first three quarters of 2022, compared to 444 in the same period a year ago. The aggregate value of SPAC offerings is also down from the previous year, with IPOs raising a combined $12.78 billion in the first three quarters of 2022 compared to $127.27 billion in 2021.

Related Items:

MariaDB to Offer Geospatial Capabilities with Acquisition of CubeWerx

The Future of Data Management: It’s Already Here

Choosing a Database for Your Enterprise? Here Is What You Need to Consider



Source link

Previous Post

AutoML- The Future of Machine Learning

Next Post

Monitor AWS workloads without a single line of code with Logz.io and Kinesis Firehose

Next Post

Monitor AWS workloads without a single line of code with Logz.io and Kinesis Firehose

Recommended

Introducing the AWS ProServe Hadoop Migration Delivery Kit TCO tool

February 7, 2023

Top 11 Flutter Open Source Apps To Take Advantage Of

April 13, 2023

6 Best Options to Learn PKI In Depth

May 5, 2023

Don't miss it

News

8 Tips on Using Data for Ecommerce

June 4, 2023
Big Data

Video Highlights: Fine Tune GPT-J 6B in Under 3 Hours on IPUs

June 4, 2023
Big Data

Adaptive Query Execution in Structured Streaming

June 4, 2023
News

Migrate from Google BigQuery to Amazon Redshift using AWS Glue and Custom Auto Loader Framework

June 4, 2023
News

Meet Barr Moses, a 2023 Datanami Person to Watch

June 4, 2023
News

How to Make a Yummy Food Infographic

June 3, 2023
big-data-footer-white

© Big Data News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Big Data
  • News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Big Data
  • News
  • Contact us

© 2022 Big Data News Hubb All rights reserved.