NoSQL cloud database platform company Couchbase Inc. today agreed to be acquired by the private equity firm Haveli Investments LP in an all-cash transaction valued at about $1.5 billion.
Under the terms of the deal, Couchbase shareholders will receive $24.50 per share in cash, a premium of 67% from the company’s closing stock price on March 27 and up 29% from Couchbase’s share price on June 18, the last full day of trading before the acquisition announcement.
The proposal does have a go-shop period, a period where Couchbase can solicit other offers; however, that period ends at 11:59 p.m. on Monday, June 23.
Founded in 2011, Couchbase is a distributed NoSQL database company that offers a modern data platform for high-performance, cloud-native applications. The company’s architecture combines JSON document storage with in-memory key-value access to allow enterprises to build scalable and responsive systems across different industries.
Couchbase’s platform offers support for multimodel workloads, including full-text search, real-time analytics, eventing and time-series data, which are all accessible through a SQL-like language called SQL++. The platform is also designed for horizontal scalability, high availability and global data replication, allowing for operations across hybrid and multicloud environments.
The company offers both self-managed and fully managed deployments through Couchbase Server and Couchbase Capella, its database as a service. It also extends functionality to the edge with Couchbase Mobile, a mobile service that offers offline-first access and synchronization for mobile and internet of things applications.
Couchbase is also keen on artificial intelligence, with coding assistance for developers, plus AI services for building applications that include retrieval-augmented generation-powered agents, real-time analytics and cloud-to-edge vector search.
The company has a strong lineup of customers, including Cisco Systems Inc., Comcast Corp., Equifax Inc., General Electric Co., PepsiCo Inc., United Airways Holdings Inc., Walmart Inc. and Verizon Communications Inc.
The acquisition will see Couchbase return to private ownership, after the company went public on the Nasdaq in July 2021. According to Reuters, Haveli Investments already held a 9.6% stake in Couchbase before making its takeover offer.
“The data layer in enterprise IT stacks is continuing to increase in importance as a critical enabler of next-gen AI applications,” Sumit Pande, senior managing director at Haveli Investments, said in an announcement statement. “Couchbase’s innovative data platform is well-positioned to meet the performance and scalability demands of the largest global enterprises. We are eager to collaborate with the talented team at Couchbase to further expand its market leadership.”
Even if another would-be acquirer doesn’t emerge before Tuesday, the deal is still subject to customary closing conditions, including approval by Couchbase’s stockholders and the receipt of required regulatory approvals.
Matt McDonough, senior vice president of product and partners at Couchbase, spoke with theCUBE, News Media’s livestreaming studio, in March, where he discussed how platforms must not only process vast volumes of real-time data, but also support emerging AI models and applications without compromising performance.
Image: Couchbase
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