Overview
- Snowflake announced on June 2 that it agreed to acquire Charleston-based Crunchy Data for roughly $250 million.
- Crunchy Data provides managed PostgreSQL solutions with enhanced security and compliance tailored to federal agencies and financial institutions.
- The integration will underpin Snowflake Postgres in private preview, enabling customers to provision and query Postgres databases within the AI Data Cloud.
- This deal follows Databricks’ $1 billion purchase of Neon and Salesforce’s acquisition of Informatica, highlighting a wave of consolidation in the data and AI sector.
- CEO Sridhar Ramaswamy said the current market environment favors strategic startup acquisitions and signaled that Snowflake remains open to further deals.