MariaDB introduced it has gone public by means of a SPAC deal and is now listed as “MRDB” on the New York Inventory Change.
The finished merger with Angel Pond Holdings has resulted in MariaDB Plc, an Irish public restricted firm with twin headquarters in Redwood Metropolis, California and Dublin, Eire. Michael Howard will proceed to steer MariaDB as CEO, together with the present MariaDB administration crew.
“As we speak is an thrilling day that marks a brand new chapter for MariaDB and an necessary milestone within the cloud business,” mentioned Michael Howard, CEO of MariaDB plc. “Our clients more and more come to us as a result of they’re fighting the scalability and availability supplied by the hyperscalers. With MariaDB SkySQL, we ship higher worth and efficiency whereas releasing companies from vendor lock-in with a multi-cloud providing. I’m extremely proud to work with our proficient crew and our buyers as we proceed to construct success within the cloud for firms world wide.”
The SPAC firm Angel Pond was based by former Goldman Sachs accomplice Theodore T. Wang, Ph.D., and Shihuang “Simon” Xie, who co-founded Alibaba. Wang joined MariaDB’s board of administrators as a part of the deal.
“I’m thrilled to deliver MariaDB to the general public market. The MariaDB database is without doubt one of the hottest and is proving to be a important ingredient for companies’ success of their cloud transformations. With MariaDB’s differentiated product providing and intensive expertise constructing world-class databases, the corporate is positioned effectively to assist the tidal wave of cloud database migrations which can be solely simply starting,” mentioned Wang in a press release.
MariaDB was based in 2009 as a fork of MySQL after being acquired by Oracle as a part of the Solar Microsystems acquisition. Its SkySQL open supply database is a totally managed cloud database service the place clients can deploy and handle the corporate’s merchandise together with MariaDB Enterprise Server, Xpand distributed SQL, ColumnStore, and Serverless Analytics powered by Apache Spark SQL.
The intent to go public through this SPAC deal was introduced in February together with a $104 million Collection D enterprise spherical, giving the corporate an implied worth of $672 million on the time. The corporate’s market capitalization was $368 million upon its buying and selling debut this week.
Some have mentioned MariaDB made this deal simply in time. SPAC offers comparable to this one appear to be slowing down. In accordance with S&P World Market Intelligence knowledge, there have been 78 SPAC IPOs within the first three quarters of 2022, in comparison with 444 in the identical interval a yr in the past. The combination worth of SPAC choices can also be down from the earlier yr, with IPOs elevating a mixed $12.78 billion within the first three quarters of 2022 in comparison with $127.27 billion in 2021.
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