Talend to Acquire Stitch, a Leader in Self-Service Cloud Data
Integration
In a move designed to accelerate its cloud
momentum, Talend (Nasdaq:TLND) today announced it has
entered into a definitive agreement to acquire Stitch, a
leader in the fast-growing, self-service data integration market.
Stitch offers an easy-to-use service for moving data from popular
sources to leading cloud data warehouse platforms. The acquisition
gives Talend both a strong solution for the cloud data warehouse
market and a frictionless sales motion to land new cloud customers
efficiently.
“Stitch is a great addition that gives us a compelling offering
in the market for simple, self-service integration for cloud data
warehouses,” said Mike Tuchen, CEO, Talend. “In addition, we
believe Stitch will work as an efficient high-volume way to acquire
new cloud customers to whom we can market our advanced cloud
solutions for data integration, transformation, cleaning, preparing
and cataloging.”
As companies standardize on using the cloud for analytics, users
increasingly need to load cloud data warehouses and data lakes
quickly. Most departments and small businesses lack the bandwidth
and sometimes the skill set to use existing solutions, causing
delays that lead to missed opportunities and poor customer
experiences. Stitch, which will be rebranded as Stitch Data Loader,
overcomes this set of challenges by enabling a broader population
of users, including data scientists, data and business analysts,
and engineers, to load data without relying on data integration
specialists.
“Talend is an ideal fit for Stitch. Their products complement
ours, and they share a similar culture and market vision,” said
Jake Stein, co-founder and CEO, Stitch. “The move to the cloud and
data-driven business is changing the integration market, bringing
new users with different needs. With the combination of Talend and
Stitch, we believe we become the only vendor that can serve all
levels of the market and all users of cloud analytics.”
According to the Gartner Group, the increase in new roles such
as data scientist, data engineer, data steward, and others that
need access to data is expanding dramatically. In fact, Gartner
Group predicts that “By 2020, the number of data and analytics
experts in business units will grow at three times the rate of
experts in IT departments, which will force companies to rethink
their organizational models and skill
sets.”[1]
In addition to enhancing Talend’s product portfolio, the
acquisition is expected to help strengthen Talend’s value
proposition for cloud ecosystem partners including data warehouse
partners such as AWS, Azure, Google, and Snowflake.
“Snowflake is pleased that two of our partners are joining
forces,” Snowflake CEO, Bob Muglia said. “The combination of Talend
and Stitch will provide Snowflake customers with some of the
broadest data integration capabilities and help them move their
workloads to Snowflake with confidence.”
Upon closing, Jake Stein will become SVP of the Stitch business
unit reporting directly to Talend, CEO, Mike Tuchen.To learn more
about Stitch or try the service for free,
visit Stitch.
Under the terms of the agreement, Talend will acquire Stitch for
approximately $60 million in cash, subject to certain transaction
adjustments. The transaction is expected to close later in the
fourth quarter subject to customary closing conditions.
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About Talend
Talend (Nasdaq: TLND),a leader in cloud data
integration solutions, liberates data from legacy
infrastructure and puts more of the
right data to work for your business,
faster. Talend Cloud delivers a single platform
for data integration across public, private, and hybrid
cloud, as well as on-premises environments, and enables
greater collaboration between IT and business teams. Combined
with an open, native, and extensible
architecture for rapidly embracing market innovations,
Talend allows you to cost-effectively meet
the demands of ever-increasing data volumes, users, and use
cases.
Over 2000 global enterprise customers have chosen Talend to put
their data to work including GE, HP Inc., and Domino’s. Talend
has been recognized as a leader in its field by leading analyst
firms and industry publications including Forbes,
InfoWorld, and SD Times. For more information, please
visit www.talend.com and follow us on Twitter:
@Talend.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements generally relate to future events or our future
financial or operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
“may,” “will,” “should,” “expects,” “plans,” “anticipates,”
“could,” “intends,” “target,” “projects,” “contemplates,”
“believes,” “estimates,” “predicts,” “potential” or “continue” or
the negative of these words or other similar terms or expressions
that concern our expectations, strategy, plans or intentions.
Forward-looking statements in this press release include, but are
not limited to, our expectations with respect to the acquisition of
Stitch and regarding the future demand and behavior of customers
and the data integration market, our expectations regarding the
evolution of our marketplace and our ability to capture an
increasing share of the big data and cloud integration market. Our
expectations and beliefs regarding these matters may not
materialize, and actual results in future periods are subject to
inherent risks, uncertainties and changes in circumstance that are
difficult or impossible to predict. Consequently, you should not
rely on these forward-looking statements. Actual outcomes and
results may differ materially from those contemplated by these
forward-looking statements as a result of such uncertainties,
risks, and changes in circumstances. Those risks, uncertainties and
assumptions include the risk that the proposed transaction with
Stitch may not be consummated in a timely manner; the effect of the
announcement or pendency of the transaction with Stitch on our
business relationships, operating results and business generally;
risks related to diverting management's attention from ongoing
business operations; unexpected costs, charges or expenses
resulting from our acquisition of the Stitch business; our ability
to retain existing customers and generate new customers; the market
for data integration solutions, particularly our big data and cloud
integration solutions, not continuing to develop; our ability to
achieve our plans, forecasts and other expectations with respect to
Stitch's business after completion of the proposed transaction;
competition from other products and services; and general market,
political, economic and business conditions, including the
fluctuation of foreign currency exchange rates.
The forward-looking statements contained in this press release
are also subject to other risks and uncertainties, and the
foregoing list of factors is not exclusive. Additional risks and
uncertainties that could affect our financial and operating results
are included under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operation” and elsewhere in our most recent filings with the
Securities and Exchange Commission, including our most recent
reports on Form 6-K and our Form 20-F filed with the SEC on March
5, 2018. Our SEC filings are available on the Investors section of
Talend’s website at http://investor.talend.com and the SEC’s
website at www.sec.gov. The forward-looking statements in this
press release are based on information available to us as of the
date hereof, and we disclaim any obligation to update any
forward-looking statements provided to reflect any change in our
expectations or any change in events, conditions, or circumstances
on which any such statement is based, except as required by
law.
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[1]Gartner “How to Enable Self-Service Analytics and Business
Intelligence: Lessons From Gartner Award Finalists”, Carlie J.
Idoine, Cindi Howson