MongoDB (MDB) to Acquire Realm for $39 Million
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Today MongoDB, Inc. (Nasdaq: MDB), the leading modern, general purpose database platform, announced it has entered into a definitive agreement to acquire Realm, the company behind the Realm mobile database and Synchronization Platform, for $39 million in cash, subject to certain adjustments. The acquisition is expected to close in the second quarter of MongoDB's fiscal year ending Jan. 31, 2020, subject to the satisfaction of customary closing conditions.
"Realm is incredibly popular with mobile developers because it makes it easy for them to work with data to accelerate innovation, which is very consistent with our own philosophy," said Dev Ittycheria, President & CEO, MongoDB. "This acquisition is a natural fit for our global cloud database, MongoDB Atlas, as well as a complement to Stitch, our serverless platform. We look forward to working closely with Realm's strong engineering talent and the vibrant developer community to capture additional share in the database market by giving developers a far more flexible, intuitive and comprehensive way to work with mobile data."
The acquisition of Realm will deepen MongoDB's relationship with developer communities focused on mobile and serverless development. There are more than 100,000 active developers using Realm, and the solution has been downloaded more than 2 billion times.
"MongoDB's guiding mission is to make working with data incredibly easy for developers," said David Ratner, CEO, Realm. "We believe this is the perfect marriage so we can continue what we started Realm to do - helping mobile developers build better apps faster and helping both the community and enterprises support their use-cases across offline-first requirements, digital transformation, user experience and IoT. Together, we will work to deliver innovative solutions from Cloud to the Edge, providing highly responsive user interfaces and experiences to an even larger community of mobile developers."
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