Fivetran and dbt Labs Unite to Set the Standard for Open Data Infrastructure
Blog post from dbt
Fivetran and dbt Labs have announced a merger in an all-stock deal to form a unified company aimed at setting the standard for open data infrastructure, combining Fivetran's expertise in automated data movement with dbt Labs' strengths in data transformation. The merger, which is set to generate nearly $600 million in annual recurring revenue, is positioned as a response to the increasing need for scalable and interoperable data solutions in the AI era. George Fraser will lead the new company as CEO, while Tristan Handy will serve as co-founder and President, with both companies maintaining their commitment to open and community-driven development. This strategic partnership aims to simplify data management by unifying data movement, transformation, metadata, and activation, ensuring flexibility and avoiding vendor lock-in, while maintaining dbt Core's open license. The merger has received approval from both companies' boards and shareholders, with finalization pending customary closing conditions and regulatory approvals.
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