Fivetran, the world-renowned leader in automated data movement, has announced an all-stock merger with dbt Labs, recognised for pioneering modern data transformation. Under this groundbreaking agreement, George Fraser will steer the unified entity as CEO, while dbt Labs' CEO, Tristan Handy, will serve as President and co-founder. Once finalised, the combined company is expected to near a remarkable $600 million in annual recurring revenue (ARR).
Both Fivetran and dbt share a foundational belief in cultivating data infrastructure that is open, automated, and effortless. By merging, they aim to harness complementary strengths to create an open data ecosystem that unifies aspects such as data movement, transformation, metadata, and activation. This partnership ensures freedom in choosing analytic compute and AI solutions, bolstering their claim of reducing engineering complexity by automating data management from start to finish.
A pivotal commitment of this merger is maintaining dbt Core under its current open license. The amalgamated company pledges to actively develop the platform with and for the community, ensuring its progression remains vibrant and true to its open-source roots.
The merger, already ratified by the boards and stakeholders of both organisations, awaits standard regulatory approvals. Until its finalisation, both firms will operate independently, holding on to their established identities.
"This is a refounding moment for Fivetran," asserted George Fraser, elucidating the visionary aim of the merger. Fivetran and dbt Labs collaboratively intend to set a benchmark for open data infrastructure, leveraging automation to transition from traditional engineering methods. Their open-standard build utilises staples like SQL and Iceberg, enabling organisations to evolve dynamically without restrictive lock-ins.
