Sources: Snowflake is in talks to buy app monitoring startup Observe for around $1B; Observe has raised more than $470M (The Information)
NeutralArtificial Intelligence
- Snowflake is reportedly in discussions to acquire Observe Inc., an app monitoring startup, for approximately $1 billion, marking a potential milestone in Snowflake's acquisition history. Observe has successfully raised over $470 million to date, indicating its significant market presence and technological capabilities.
- This acquisition could enhance Snowflake's offerings in application performance monitoring, aligning with its strategy to expand its product portfolio and strengthen its competitive position in the cloud data services market.
- The move comes amid a backdrop of fluctuating financial performance for Snowflake, including a recent 29% increase in Q3 product revenue, yet a forecast of lower-than-expected operating income margins, reflecting the challenges and opportunities in the rapidly evolving tech landscape.
— via World Pulse Now AI Editorial System