Snowflake in Talks to Acquire Analytics Startup Redpanda

Database provider Snowflake this week discussed an acquisition of Redpanda, a data analysis software startup valued at around $500 million in 2023, according to a person who has been part of the talks. An acquisition of the firm could upgrade Snowflake’s artificial intelligence services, an area where the company has lagged rivals such as Databricks.

Redpanda sells software that financial firms and retailers use to analyze continuously flowing data, known as streaming data, from stock market activity to e-commerce transactions. Its customers have included data center networking firm Cisco Systems, credit rating firm Moody’s, and videogame publisher Activision Blizzard, as well as some banks, which use it to detect fraud.