Big Board Alerts

October 24, 2023
Databricks acquires Arcion to enhance data solutions

The renowned analytics company Databricks, valued at $43 billion, has officially agreed to acquire Arcion, an enterprise data business, for a sum of $100 million, which includes incentives. CEO Ali Ghodsi disclosed the news about the acquisition, which comes after Databricks’ announcement of securing $500 million in funding during September, with the participation of investors such as Nvidia and Capital One. This marks the company’s first acquisition since obtaining MosaicML, a startup specializing in AI infrastructure and large language model training.

The addition of Arcion to Databricks’ portfolio showcases the company’s aggressive growth strategy and commitment to providing cutting-edge data and AI solutions to enterprises. This acquisition is expected to strengthen Databricks’ position in the market by enhancing its product offerings and expanding its customer base, ultimately allowing it to deliver more comprehensive, data-driven insights to its clients.

Importance of Arcion’s technology

Databricks primarily provides a data analytics tool significantly powered by deep learning — a type of artificial intelligence technique. Ghodsi noted that incorporating Arcion’s technology would enable customers to integrate their data from various software systems effortlessly. Prior to this, Databricks had contributed to Arcion’s Series A funding round of $13 million in February 2022. The acquisition demonstrates Databricks’ commitment to enhancing its platform and offering better data management solutions to its clients. By integrating Arcion’s technology, Databricks aims to streamline data workflows and improve the overall user experience, creating a more seamless data analytics process for organizations.

The next step involves merging Arcion’s technology with MosaicML, which will establish a data source that supplies information to Mosaic when clients seek to utilize the tool for creating their AI models, as confirmed by Ghodsi. This integration aims to streamline the process of training AI models, ensuring a seamless user experience while reducing the time and resources spent on data acquisition and preparation. Ultimately, the collaboration between Arcion and MosaicML promises to enhance AI-driven solutions’ overall efficiency and effectiveness for clients across various industries.

Featured Image Credit: Photo by Karolina Grabowski; Pexels; Thank you!

The post Databricks acquires Arcion to enhance data solutions appeared first on ReadWrite.

 

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