Alibaba makes further in-roads in big data with Data Artisans acquisition
Chinese tech giant Alibaba, the country’s market leader in online retail, with a presence in numerous industries such as artificial intelligence and payments, has just driven deeper into big data with a European acquisition. The company has spent 90 million euros to pick up Data Artisans, a Berlin-based startup that “provides distributed systems and large-scale data streaming services for enterprises.”
2019 has been kind to Alibaba so far, sending its share price up 6% in 8 days!
Source: Yahoo Finance
Data Artisans, which was founded in 2014 by the same team that worked on Apache Flink (an open source large-scale data processing technology), has worked with Alibaba since 2016. That work was described in a joint statement as “support and open source work to help the architecture and performance of the software.”
Data Artisans co-founders Kostas Tzoumas and Stephan Ewen said that Alibaba’s ownership and resources would help the company reach “new horizons”, letting it “expand to new areas that we have not explored in the past and make sure that Flink becomes a more valuable data processing framework for the modern data-driven, real-time enterprise. Moving forward together, Data Artisans and Alibaba will not only continue, but accelerate contributions to Apache Flink and open source Big Data.”
Jingren Zhou, vice president of Alibaba Group, added: “By leveraging the technology expertise of both teams and shared passion to develop the open-source community, we are confident that this strategic tie-in will further strengthen the growth of the Flink community, accelerate the data-processing technologies and help bolster an open, collaborative and constructive environment for global developers who are passionate about stream processing and enabling real-time applications for modern enterprises.”
Dominion holds Alibaba in its Global Trends Managed Fund.
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