Fintech PR
K1 Acquires MariaDB, a Leading Database Software Company, and Appoints New CEO
Strategic investment aims to accelerate MariaDB’s mission to deliver innovative, scalable database solutions with new executive leadership to drive the next phase of growth
MANHATTAN BEACH, Calif. and MILPITAS, Calif., and DUBLIN, Sept. 10, 2024 /PRNewswire/ — K1 Investment Management, LLC (“K1”), one of the largest investors in small-cap enterprise software companies, today announced the completion of its tender offer to acquire 100 percent of the issued ordinary shares of MariaDB plc (NYSE: MRDB) (“MariaDB”), a leader in enterprise database solutions. This strategic investment positions MariaDB to further expand its presence in the enterprise market and continue delivering innovative, scalable solutions globally.
MariaDB, headquartered in Silicon Valley and Dublin, Ireland, serves nearly 700 active customers across industries including banking, telecommunications, government, healthcare and e-commerce. Notable clients include Deutsche Bank, Nokia, RedHat, Samsung and ServiceNow, alongside major public sector entities including the U.S. Department of Defense, and across multiple Intelligence and Federal Civilian agencies. Known for its innovation, scalability and dependability, MariaDB database products power mission-critical applications through its transactional, analytical and mixed workloads.
“To run our strategic risk platform at Deutsche Bank, we needed a database that was reliable and performant while handling a massive amount of data. That’s why we turned to MariaDB,” said Liang Ma, Director Core Strats at Deutsche Bank. “With MariaDB Enterprise Server, we have a database that delivers the stability we need at a fraction of the cost of proprietary alternatives.”
MariaDB also announced the appointment of Rohit de Souza as CEO. Rohit brings considerable leadership experience from his roles at Actian and Micro Focus, where he led global organizations driving growth and transformation. Paul O’Brien, former CEO of MariaDB, will remain involved with the company as an advisor.
“We are thrilled to welcome MariaDB to the K1 portfolio and to have Rohit leading the company into its next phase of growth,” said Sujit Banerjee, Managing Director of K1 Operations, LLC. “Together, we aim to accelerate product innovation and continue MariaDB’s mission of delivering high-quality, enterprise-grade solutions to meet the growing demands of the market.”
MariaDB continues to innovate with upcoming product releases, including the launch of vector search in MariaDB Server and a Kubernetes (K8s) Operator, catering to AI and cloud-native trends. These advancements enable enterprises to build AI-driven applications and deploy scalable solutions, including advanced recommendations, image-based search and intuitive chat bots that leverage large language models (LLMs) and data analysis tools, all while seeking to ensure data reliability at enterprise scale.
“With K1’s support, we are poised to expand our capabilities and continue delivering the innovative database solutions our customers rely on,” said Rohit de Souza, CEO at MariaDB. “This partnership allows us to further product innovation, advancing our ability to support new workloads driven by AI and the cloud. We remain focused on making it easier for customers to transition from costly alternatives and meet the rapidly growing demands for AI and cloud-based solutions.”
“As we look to the future, with new leadership and the partnership of K1, I have never been more confident in the future of MariaDB. It has been my pleasure to serve MariaDB as CEO and I look forward to supporting Rohit as he transitions into the business,” said Paul O’Brien, former CEO of MariaDB.
MariaDB is the latest transaction announced by K1, following the strategic growth investment in Board Intelligence and the sale of GoCanvas to Nemetschek Group (FRA:NEM). This marks K1’s third take-private transaction following Elmo (ASX: ELO), a leading provider of cloud-based human capital management solutions, and Attraqt (LON: ATQT), a pioneer in AI-driven search and merchandising solutions for online retailers.
Lazard Frères & Co. LLC. served as financial advisor to K1. Kirkland & Ellis LLP, and A&L Goodbody LLP served as legal advisors to K1. Baker Botts LLP and Matheson LLP served as legal advisors to MariaDB.
About MariaDB
MariaDB seeks to eliminate the constraints and complexity of proprietary databases, enabling organizations to reinvest in what matters most – rapidly developing innovative, customer-facing applications. Enterprises can depend on a single complete database for all their needs, that can be deployed in minutes for transactional, analytical or hybrid use cases. Trusted by organizations such as Deutsche Bank, DBS Bank, Red Hat, ServiceNow and Samsung – MariaDB delivers customer value without the financial burden of legacy database providers. For more information, please visit mariadb.com.
About K1
K1 is one of the largest investors in small-cap enterprise software companies. Headquartered in Manhattan Beach, California, K1 partners with strong management teams of high-growth software businesses, utilizing operationally focused growth strategies to rapidly scale portfolio companies. Dedicated to transforming industries and driving productivity, K1 has collaborated with over 240 enterprise software companies since inception.
K1’s exclusive focus, driven by its single team, single office, and single fund strategy, has resulted in realizations for many of its portfolio companies. Examples include Apttus (sold to Thoma Bravo), Buildium (sold to RealPage, NASDAQ: RP), Certent (sold to insightsoftware), Checkmarx (sold to Insight Partners and Hellman & Friedman), Clarizen (sold to Planview), FMG Suite (sold to Aurora Capital Partners), GoCanvas (sold to Nemetschek Group, FRA: NEM), Granicus (sold to Vista Equity Partners and Harvest Partners), Inthinc (sold to Orbcomm, NASDAQ: ORBC), Litera (sold to Hg Capital), Rave Mobile Safety (sold to TCV; now owned by Motorola Solutions, NYSE: MSI), TeamDynamix (sold to Level Equity), Unified (now owned by iHeartMedia), WorkForce Software (now owned by Insight Partners and Elliott Investment Management), and Zapproved (sold to Exterro).
For more information, visit k1.com and follow K1 Investment Management on LinkedIn.
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Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.
Expanding Regulatory Reach
The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.
“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU
Strengthening Client Confidence
Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.
By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.
About Doo Group
Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.
View original content:https://www.prnewswire.co.uk/news-releases/doo-group-strengthens-global-reach-with-cysec-license-for-doo-financial-302306893.html
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