Alibaba Group Holding came to an acquisition agreement with German data analysis firm Data Artisans. The acquisition deal of China’s Alibaba buying Berlin-based startup Data Artisans is reported to be valued about 90 million euros ($103 million).
This is the first time when a Chinese company has been fully taking over any of the German startups except Tencent Holdings, a rival of Alibaba, took part in funding round for German online app-only bank N26 in March 2018. That deal can be accounted as last deal of significant nature, which raised funds of worth $160 million for the bank.
Alibaba, in addition to invest in Data Artisans to expand into new businesses, will also be investing in Apache Flink, its open-source software for processing large data volumes, said Kostas Tzoumas, CEO of Data Artisans. The amount that Alibaba will invest in these plans of Data Artisans was not disclosed by the executive.
The Data Artisans also neither disclosed nor commented the deal amount but German media, including German newspaper Handelsblatt, quoted the amount to be 90 million euros which Alibaba will pay to acquire Data Artisans, a startup which provides large-scale data streaming services and distributed systems for enterprises.
Alibaba is an e-commerce giant and to compete with rivals like other Amazon.com, it has made the current move to buy Data Artisans. Since 2016, Alibaba remained related with German company as customer for support and open source work to help the architecture and performance of the software. The team leading the development of large-scale data processing software Apache Flink has founded the Data Artisans in 2014 which offers its own dA Platform to large enterprises that include Uber, ING and Netflix.
Collaboration with Data Artisans to develop software that can handle large volume data processing and further expansions in its partnership with the company was reported by Alibaba earlier this week.