 "Teradata To Acquire Aster Data")
Teradata Corporation has signed a definitive agreement to acquire Aster Data Systems, Inc., the analytics and data management solutions providers. The combination of Teradata and Aster Data technologies will enable businesses to unlock the intelligence hidden within the ever-growing volume of big data.
Teradata is acquiring Aster Data’s 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, through this acquisition, Teradata will obtain approximately $21 million of cash which Aster Data is expected to have on its balance sheet at closing.
“We are excited about the big data analytics market opportunity that Aster Data brings to Teradata. 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,” said Mike Koehler, President and CEO, Teradata Corporation.
“Teradata is recognised as an innovator and leader in data warehousing, and the addition of Aster Data will enable us to leapfrog into a leadership position in the emerging big data market. This is a great opportunity and something our customers have been asking for,” said Scott Gnau, Chief Development Officer, Teradata Corporation.
“We are excited to be a part of Teradata. Working together, we can accelerate the ability of customers to harness the large volumes of diverse data that corporations must deal with and analyse,” said 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,” said Mayank Bawa, Chief Customer Officer and co-founder, Aster Data. “We are really excited about the prospect for growth as we join forces with Teradata to bring Aster Data’s solutions to customers worldwide.”