Finland’s MariaDB has closed a $ 104 million Series D private placement round and announced its intention to become a public entity on the New York Stock Exchange through a merger with Angel Pond Holdings, a method better known as SPAC. As is usual with this type of listing, when all is said and done, the combined companies will be identified as MariaDB plc and headed by the current CEO of MariaDB Michael Howard.
Expected to end in H2 of FY2022 and subject to traditional closing conditions, which include approval from the U.S. Securities and Exchange Commission (the “SEC”) and the New York Stock Exchange, upon completion of the deal, the new company will have of an estimated value of $ 672 million.
MariaDB may be the textbook case of how the open-source methodology can not only serve greater goodness and a wider audience than traditional routes, but is also successfully profitable.
Current investors include Intel Capital, Alibaba Group, European Investment Bank, Runa Capital, Tesi, GP Bullhound, OpenOcean, California Technology Ventures, Spintop Ventures, Smartfin, ServiceNow, and OnCorps.
“MariaDB is the data backbone of services used by millions of people every day. Our mission is to build a database for everyone, providing the perfect balance of simplicity and raw power, including unified transactional and analytical processing for day-to-day applications, “Howard commented.” Whether customers move to open source or the cloud, with MariaDB they save up to 90% of their total cost for databases.I am excited that a public investor base and enhanced access to capital will provide allow us to accelerate the go-to-market for our technology that has been tested in battle and proven to suit the market. “
Angel Pond SPAC vehicles are co-founder of former Goldman Sachs partner Dr. Theodore T. Wang and Alibaba Group co-founder Mr. Shihuang “Simon” Xie.
In conjunction, Dr. commented. Wang, “MariaDB is trusted by some of the world’s largest blue-chip customers to run their mission-critical applications. With a stronger balance and proven technology, MariaDB is well positioned to take advantage of the exploding growth of data around the world and in the move to the cloud. “