New standard for open data infrastructures

Fivetran, a provider of automated data movement, and dbt Labs, a pioneer of modern data transformation, are joining forces as part of a share swap. The goal is to jointly set the standard for open, automated and easy-to-manage data infrastructures. The merged company will generate annual recurring revenues (ARR) of around 600 million US dollars. Fivetran CEO George Fraser will take the helm, while Tristan Handy, founder of dbt Labs, will serve as President. Both see the merger as the next step towards a fully integrated database that will enable businesses to run analytics and AI applications at scale - open, interoperable and scalable.

The openness of the new approach is particularly emphasized: dbt Labs Core will remain open source, and the shared platform will be based on open standards such as SQL and Iceberg. This gives companies complete freedom of choice when it comes to cloud, BI or AI tools and avoids vendor lock-in. "AI is changing every industry," says Fraser. "Companies need an open foundation that grows with their ambitions." Handy adds: "Together, we can create the open data infrastructure that the AI era demands." The merger has been approved by both boards and shareholders, but is still subject to regulatory approval. Until then, both companies will continue to operate independently.

Source: Fivetran