Multi-cloud data platform provider Teradata has acquired startup Stemma Technologies to boost the company’s capabilities around transformative analytics from discovery through delivery.
“Stemma is helping redefine how enterprises find trustworthy data and providing a consistently up-to-date view of data anytime, anywhere,” said Hillary Ashton, Teradata’s chief product officer, in a statement. “Stemma’s automated data catalog capabilities will help Teradata deliver an enhanced user experience designed to accelerate growth in the flourishing area of AI and ML analytics.”
The San Diego-based company’s stock is up 1 percent today, trading at $55.75 per share.
[Related: AWS, Microsoft, Google Battle For $169B Cloud Services Market: IDC]
Financial terms of the deal were not disclosed.ADVERTISEMENT
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Stemma employees will join Teradata’s 7,000-strong workforce.
Who Is Stemma Technologies?
Stemma focuses on AI-enhanced data search and exploration, offering integration with data warehouses, security tools and collaboration software solutions.
The startup’s mission is to make data within organizations more accessible by bridging the gap between data producers and data consumers.
Stemma was founded in 2020 thanks to a $5 million investment from Sequoia Capital with the goal of developing a leading data catalog provider. The startup’s first managed data catalog was launched in June 2021.
Stemma’s offering was engineered to provide high-grade security, enhanced data search capabilities and automated data intelligence. With 20 built-in data connectors, Stemma’s data catalog aims to strengthen Teradata’s data fabric and accelerate the analytics productivity of the Vantage platform.
“We are thrilled to welcome Stemma’s strong team of engineers and metadata experts to help advance Teradata’s product road map in data lineage, data governance and data compliance—all driving to greater self-serve analytics in the age of AI,” said Teradata’s Ashton.
Teradata Q1 2023 Earnings
Teradata generated $388 million in public cloud annual recurring revenue during the first quarter of 2023, representing an 86 percent growth rate year over year.
The company reported total revenue of $476 million, down 4 percent year over year.
In 2020, Teradata hired Steve McMillan as its new CEO. McMillan was previously executive vice president of global services for F5 Networks, along with a nearly 20-year tenure at IBM from 1993 until 2012.
Teradata has formed cloud analytics partnerships with cloud computing market leaders Amazon Web Services, Microsoft Azure and Google Cloud, as well as with Dell Technologies and Accenture.LEARN MORE: Database and System Software | Business Intelligence and Analytics | Mergers and Acquisitions
Mark Haranas is an assistant news editor and longtime journalist now covering cloud, multicloud, software, SaaS and channel partners at CRN. He speaks with world-renown CEOs and IT experts as well as covering breaking news and live events while also managing several CRN reporters. He can be reached at [email protected].
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