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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Fintech PR
Healthcare leaders gather at House of Commons to discuss productivity-boosting tech with MyStaff app
LONDON, Nov. 15, 2024 /PRNewswire/ — Healthcare leaders from 16 NHS trusts gathered at the House of Commons this week to see how Mid and South Essex NHS Foundation Trust is using a groundbreaking new app that transforms staff access to information vital to their patients’ care.
The MyStaff app uses AI and automation to simplify the management of critical policies and procedures, reducing the time staff spend searching for information from almost 10 minutes to under 30 seconds. Over 12,000 of the Trust’s staff have signed up, and around 1,000 are using the app daily.
With £2bn pledged to help digitise the NHS and bring down waiting lists, such time-saving tech is high on healthcare’s agenda. Trust Chief Executive Matthew Hopkins introduced the session, which was hosted by David Burton-Sampson, MP for Southend West and Leigh, and saw technology strategists and users share their experiences of digitising vital healthcare operations.
Matthew said: “Our Trust is working to make the best use of digital technologies wherever this can help staff to provide the best possible care to our patients. MyStaff app is a versatile and easy-to-use tool that improves our governance processes and makes it easy for staff to access the vital clinical information they need when treating patients.”
The Trust developed MyStaff app with digital innovators Diligram, who have created a digital governance solution that helps ensure staff use the latest policies and guidance when delivering patient care. Document compliance rates have grown from 60% to 98%, whilst projections indicate the app could release 55,000 hours’ worth of staff capacity over 3 years, worth almost £4m in staff costs and giving staff more time on patient-facing care.
Diligram CEO Leslie Golding said: “We have worked closely with the Trust on developing groundbreaking technology that supports our healthcare heroes by simplifying access to essential information. We’re proud to be part of this brilliant example of positive digital change.”
Editor’s notes
- Contact: Rob Benson, 07815098560, [email protected]
- Further images, interviews, site visits available
About MyStaff app
The MyStaff app from digital transformation company Diligram is time-saving tech that offers a mobile-first digital corporate governance solution for healthcare providers.
Web: mystaffapp.io
About Mid and South Essex NHS Foundation Trust
MSE is one of the largest Trusts in the country, serving around 1.2million people. Our values are about delivering excellent, compassionate and respectful care.
Web: mse.nhs.uk
Photo – https://mma.prnewswire.com/media/2558941/MSE_CEO_Matthew_Hopkins_MyStaff_app.jpg
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BEIJING, Nov. 15, 2024 /PRNewswire/ — On November 14, 2024, ThunderSoft (Stock Code: 300496), a world leading OS and intelligent device products and technology provider, and HERE Technologies, the leading location data and technology platform, announced a strategic partnership to enhance collaboration in intelligent navigation and high-definition maps. The collaboration aims to support the efficient development of navigation systems, contributing to a more connected and intelligent mobility ecosystem.
The agreement will see both companies maximize their technical strengths and platform resources for comprehensive, multifaceted cooperation. ThunderSoft’s Aqua Drive OS will integrate HERE location data and services, including HERE SDK, HD Map and autonomous driving solutions. These AI-powered elements, create a foundation for developers worldwide to build intelligent system platforms. Additionally, the partnership will deliver tailored intelligent navigation solutions for international markets, addressing the diverse requirements of automotive manufacturers and consumers.
The companies will also collaborate to develop immersive and interactive 3D high-definition mapping solutions by combining HERE’s map data with ThunderSoft’s Kanzi Map engine, establishing a new benchmark in intelligent driving and navigation.
Deon Newman, Senior Vice President and General Manager of HERE Technologies said, “This strategic partnership with ThunderSoft represents a transformative step in delivering on the potential of AI and software-defined vehicles. By uniting our best-in-class location technology with ThunderSoft’s advanced system capabilities, we will together deliver greater insight and intelligence to every journey, empowering our clients to create richer, more personalized experiences for their customers worldwide.”
Hengshang Chang, Executive President and President of SmartVehicle Business Group of ThunderSoft, highlighted the strategic importance of the collaboration, “Our collaboration with HERE holds immense significance. By integrating HERE’s map data and location platform capabilities with ThunderSoft’s pioneering vehicle OS technology, we aim to develop more competitive, globally-oriented intelligent navigation systems for the automotive industry, enabling automakers to achieve accelerated growth.”
About HERE Technologies
HERE has been a pioneer in mapping and location technology for almost 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. Find out how HERE is moving the world forward at here.com.
About ThunderSoft
ThunderSoft, a well-known intelligent operating system products and technologies provider, has been continuously accumulating and innovating in the operating system field, with its business expanding gradually from smart phone to smart vehicle, AIOT and smart industries. Website: https://en.thundersoft.com
View original content:https://www.prnewswire.co.uk/news-releases/thundersoft-partners-with-here-technologies-to-enhance-intelligent-navigation-solutions-302307004.html
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 .
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