Software AG announced an agreement to acquire StreamSets, a leader in data integration for the modern data stack, for €524 million.
With this acquisition, Software AG adds a sizeable and fast-growing SaaS and subscription business that is growing rapidly, with StreamSets’ revenue having grown at a four-year CAGR of more than 70 percent through 2021.
StreamSets’ enterprise-grade data integration platform enables customers to move data seamlessly and securely to and from any part of their digital backbone, which is built by Software AG’s Digital Business portfolio across hybrid and multi-cloud environments.
The acquisition is the first in Software AG’s M&A strategy which is designed to accelerate growth by opening up access to new parts of its €61 billion total addressable market. The deal will see Software AG enter the cloud data integration portion of the wider data integration market, a segment growing 26 percent annually in a market projected to reach $3.5 billion by 2025.