Databricks acquires data optimization startup Tabular in fresh challenge to Snowflake
Publishing timestamp: 2024-06-04 13:16:43
Summary
Databricks is acquiring Tabular, a startup that helps optimize data stored in the cloud with the Apache Iceberg format. The acquisition comes as Databricks faces competition from Snowflake and others. Databricks is paying over $1 billion for Tabular, with funding from recent deals and acquisitions. Snowflake executives have expressed interest in moving data to Iceberg tables, potentially impacting their storage revenue. Databricks and Snowflake are both focusing on Iceberg tables, with Databricks aiming to take business from Snowflake clients.
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Keywords: okta inc, confluent inc, salesforce inc, alphabet inc, netflix inc, amazon.com inc, enterprise, mongodb inc, technology, business news, business, breaking news: technology, snowflake inc.,
Source: https://www.cnbc.com/2024/06/04/databricks-is-buying-data-optimization-startup-tabular.html