Snowflake has agreed to acquire observability specialist Observe, TechCrunch reported on Jan. 8.
The specific terms were not disclosed, but the deal is known to be worth about $1 billion, according to reports. It is Snowflake's largest merger and acquisition.
Observe provides a platform that monitors software system performance issues. The Observe platform was developed based on the Snowflake database.
Snowflake has signed a final acquisition agreement with Observe and is awaiting regulatory approval, TechCrunch reported.
Through the acquisition, Snowflake plans to help customers centrally manage logs, metrics and trace data generated by software systems and detect potential errors early.
Observe was founded in 2017 by Jacob Leverich, Jonathan Trevor and Ang Li, and launched its first product using the Snowflake database in 2018. It has raised $500 million in venture funding to date, with Snowflake Ventures, Sutter Hill Ventures and Madrona among its main investors.
Chi-gyu Hwang
delight@d-today.co.kr