Data analysis software manufacturer snowflake It said on Monday it has agreed to buy Crunchy Data, a startup that offers cloud-based database software. According to a person familiar with the matter, Snowflakes will pay about $250 million and they have no right to talk about the deal openly.

Crunchy Data sells access to a cloud-formatted version of PostgreSQL open source database, which replaces MySQL as the most popular database in Stack Overflow's annual developer survey in 2023. CrunchyData's services include security and performance enhancements compared to standard open code.

Snowflake rival Databricks announced last month that it aims to acquire Neon, whose software is also based on PostgreSQL, for about $1 billion. According to another person, Snowflakes also considered buying neon lights last year but walked away, adding that the crunchy data generated an annual growth rate of more than $30 million.

Neon did not immediately respond to a request for comment.

Databricks and Snowflake are both counting on their respective deals to help them benefit from company spending, providing AI agents that perform tasks themselves.

According to the statement, with crisp data, Snowflake will soon provide early access to the PostgreSQL database service. Christian Kleinerman, executive vice president of products at Snowflake, said the plan was to simplify the process of transferring data to snowflakes so that customers can more easily query large data supplies.

Snowflake shares have risen 36% so far this year. In May, Stifel analysts compared the company to top golfer Scottie Scheffler, saying Snowflake published the "Scheffler & Dourch & Guide" which exceeded consensus and increased by 25% year-on-year. Stifel's Buy Rating for Snowflake Inventory.

“We are helping clients build a solid foundation to lead the Agent AI era,” CEO Sridhar Ramaswamy told analysts on a May call. “We keep moving forward on this momentum and you’ll see more from us in just a few weeks.”

Crunchy Data was founded in 2012 and is headquartered in Charleston, South Carolina, with approximately 100 employees. Investors include ALSOP Louie Partners, Gray Ventures, Harbert Growth Partners and Heavybit. Clients include Kyndryl, Thales, ups and the U.S. Department of Homeland Security. this

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