Snowflake Announces Intent To Acquire Streamlit To Empower Developers And Data Scientists To Mobilize The World’S Data
Mar 02, 2022•over 3 years ago
Acquiring Company
Snowflake
Acquired Company
Streamlit
Description
Snowflake (NYSE: SNOW), the Data Cloud company, and Streamlit, a framework built to simplify and accelerate the creation of data applications, today announced that they have signed a definitive agreement for Snowflake to acquire Streamlit. With this strategic acquisition, the two companies will join forces to unlock the unrealized potential of data and make it easier to build beautiful applications. Closing of the acquisition is subject to the receipt of required regulatory approvals and other customary closing conditions.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed