Well-known Startup Company Big-Data Startup ParAccel to be Acquired by Actian
For many companies they are publicly known but for Actian, this privately held player is the large data and business analytics software space is hitting the newsstands for their newly acquired company, ParAccel. They have been known to make several acquisitions within the last few months but this is one of their bigger ones and can help to take them to a new level. ParAccel, a large funded startup company specializes in analytics database software that can help to give Actian the upper hand over other companies in the same field.
Steven Shine, which is the current CEO of Actian, has released a statement that the combined businesses will have a network of nearly $150 million and over 450 employees that will be located in various locations around the world. This is the companies 3rd major acquisition since 2011. They paid $162 million in January for Pervasive Software and last year they purchased Versant for $37 million.
Since both companies are private the financial amounts were not released t but the acquisition marks an exit for ParAccel’s investors which include Bay Partners, MDV, Amazon, and Tao Venture Partners & Menlo Ventures, Walden International of which had put in a combined amount of $64 million since 2007. A little over a year ago there was a capital injection of $20 million venture led by Amazon.
The company that the chose to acquire this week specializes in high end databases and has seen a few of their competitors, such as Vertica & Aster Data Systems, which was acquired by Hewlett Packard and Teradata. Its outstanding platform brings together an analytic database with additional features to integrate and extend it with other technologies for running big data analytics. Customers include Royal Bank of Scotland, MicroStrategy, Amazon and OfficeMax. ParAccel’s technology helps Amazon in their RedShift cloud based warehouse service while companies like MicroStrategy use the technology to power a business intelligence product.
Many companies often find themselves struggling with their big data and analytics and may seem limited to large companies such as Oracle or IBM but in reality have many other options because of their capabilities. Businesses are always looking for help in different threads of managing, gathering and analyzing large troves of data and then using it all to better their business sense. Many of these companies want it to take place in the cloud which opens the new opportunities.
Actian was created as a database product originally called Ingres, one that was acquired in the early 1990s. In 2004, they decided to change to an open source product and after streamlining in 2005 the assets were released as being privately held and owned. The name was changed from CA technologies to Actian in 2011. It will be interesting to see the changes that occur once the acquisition is completed this week and to see what it grows into. More information should be released about the ParAccel acquisition in the coming weeks.