Teradata to acquire Aster Data
Teradata (NYSE:TDC) the data warehousing and business analytics solution provider, recently acquired Aster Data Systems, an analytics and data management solution provider. The acquisition is expected to enable businesses to unlock the vital intelligence hidden within the increasing volume of big data.
“This, coupled with our recent Integrated Marketing Management acquisition with Aprimo, and our increased investments into our core data warehouse business - provide three best-in-class platforms to fuel future growth for Teradata,” informed Mike Koehler, president and chief executive officer, Teradata.
Welcoming Aster Data’s ‘talented’ employees to Teradata, Scott Gnau, chief development officer, Teradata said, “This is a great opportunity and something our customers have been asking for.
Aster Data stated that, Teradata is acquiring its business, including its intellectual property and technology product line, through a merger transaction. Teradata plans to support Aster Data’s customers and integrate its employees immediately upon completion of the acquisition, which is expected to occur in the second quarter of 2011. Teradata acquired an 11 percent ownership interest in Aster Data in September 2010, and has agreed to pay an additional $263 million for the remaining ownership interest, net of debt and other expenses. In addition, the company will obtain approximately $21 million of cash which Aster Data is expected to have on its balance sheet at closing.
“Working together, we can accelerate the ability of customers to harness the large volumes of diverse data that corporations must deal with and analyze,” believes Tasso Argyros, chief technology officer and co-founder, Aster Data.
“We are bringing a new class of data-driven applications that leverage the power of the patent-pending SQL-MapReduce analytics and innovations related to non-relational data processing delivered with flexible and easy to use tools,” commented Mayank Bawa, chief customer officer and co-founder, Aster Data.
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