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MariaDB is the subject of another potential takeover bid, as the company behind the eponymous open source relational database management system (RDBMS) confirmed it had received a provisional offer from California-based K1 Investment Management.
K1 quietly revealed on Friday that it had tabled what is known as an “unsolicited non-binding indicative proposal” for MariaDB, which — as its name suggests — is a non-binding exploratory offer that may change depending on how negotiations progress in the coming weeks. This proposal includes buying all MariaDB stock at a price of $0.55 per share, which would amount roughly to $37 million based on the company’s February 5 closing valuation, though it has yet to determine what form this offer will take.
The news comes amid major changes and upheaval at the company which has seen a new CEO enter the fray and a sizeable downsizing endeavor as it offloaded both its database-as-a-service and geospatial businesses.
MariaDB emerged as a fork of MySQL 15 years ago, after MySQL’s project creators became concerned about its independence in the wake of a series of billion-dollar acquisitions that led Oracle to effectively own MySQL in 2009. MariaDB was considered a “drop-in” replacement for those seeking a fully open source MySQL alternative, and has been used by big-name companies for storing and manipulating data across their applications.
techcrunch.com
K1 quietly revealed on Friday that it had tabled what is known as an “unsolicited non-binding indicative proposal” for MariaDB, which — as its name suggests — is a non-binding exploratory offer that may change depending on how negotiations progress in the coming weeks. This proposal includes buying all MariaDB stock at a price of $0.55 per share, which would amount roughly to $37 million based on the company’s February 5 closing valuation, though it has yet to determine what form this offer will take.
The news comes amid major changes and upheaval at the company which has seen a new CEO enter the fray and a sizeable downsizing endeavor as it offloaded both its database-as-a-service and geospatial businesses.
MariaDB emerged as a fork of MySQL 15 years ago, after MySQL’s project creators became concerned about its independence in the wake of a series of billion-dollar acquisitions that led Oracle to effectively own MySQL in 2009. MariaDB was considered a “drop-in” replacement for those seeking a fully open source MySQL alternative, and has been used by big-name companies for storing and manipulating data across their applications.
Struggling database company MariaDB could be taken private in $37M deal | TechCrunch
MariaDB is the subject of a potential takeover bid, as the company confirmed it has received an offer from K1 Investment Management.
techcrunch.com
