Software AG, Darnstadt’s process management, data management and consulting services provider, has acquired the Dataops platform StreamSets for €524 million, plus a customary retention package awarded to the latter’s senior management team.
The transaction is expected close by H1 of this calendar year.
As the first stop on Software AG’s M&A strategy to strengthen its position in a €61 billion total addressable market, the acquisition of StreamSets now gives the company entry to the cloud data integration sector.
Sector that has seen an annual growth rate at 26 percent. It is projected to reach $3.5Billion in the next three years.
As a demonstration of just how strong a feather this now represents in Software AG’s cap, StreamSets has seen revenues grow at a four-year CAGR of over 70 percent through 2021.