AI to transform financial management for Indian SMEs, MSMEs
Thes enterprises make up more than 60 million of them, contributing to over 30 per cent of the nation’s GDP and employ more than 110 million people.
US-based data and AI company Databricks has acquired data startup Arcion, which helps enterprises quickly and reliably replicate data across on-prem, cloud databases and data platforms.
Databricks acquires data startup Arcion for $100 mn
US-based data and AI company Databricks has acquired data startup Arcion, which helps enterprises quickly and reliably replicate data across on-prem, cloud databases and data platforms.
According to reports, the company acquired Arcion for about $100 million, including incentives.
The company said this acquisition will enable Databricks to natively provide a scalable, easy-to-use, and cost-effective solution to ingest data from various enterprise data sources.
Advertisement
“Arcion’s highly reliable and easy-to-use solution will enable our customers to make that data available almost instantly for faster and more informed decision-making,” Ali Ghodsi, Co-Founder and CEO at Databricks, said in a statement.
Building on a scalable change data capture (CDC) engine, Arcion offers connectors for over 20 enterprise databases and data warehouses. The integration will simplify ingesting such data either continuously or on-demand into the lakehouse, fully integrated with the enterprise security, governance, and compliance capabilities of the Databricks platform, according to the company.
“Arcion’s real-time, large-scale CDC data pipeline technology extends Databricks’ market-leading ETL solution to include replication of operational data in real-time,” said Gary Hagmueller, CEO of Arcion.
The acquisition comes after Databricks announced a $500 million funding round in September at a valuation of $43 billion.
In June, the company acquired MosaicML, a leading generative AI platform for approximately $1.3 billion. With this acquisition, the company is said to make generative AI accessible for every organisation, enabling them to build, own and secure generative AI models with their own data.
Advertisement