Snowflake Announces Intent To Acquire Streamlit To Empower Developers And Data Scientists To Mobilize The World’S Data

Mar 02, 2022•almost 4 years ago

Acquiring Company

Snowflake

Acquired Company

Streamlit

BozemanSan FranciscoSoftwareSoftware

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.

Company Information

Company

Snowflake

Location

106 EAST BABCOCK STREET

Bozeman, Montana, United States

About

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 241 of the 2021 Fortune 500 and 488 of the 2021 Forbes Global 2000 (G2K) as of January 31, 2022, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

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M&A Insights

Based on deal data
Integration 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