M&A advisory for data infrastructure companies
Data infrastructure M&A has tracked the consolidation of the modern data stack and the AI-driven push to own the data layer beneath model and application infrastructure. Strategic acquirers at the major data platforms, cloud majors and ERP groups, alongside infrastructure-focused PE platforms, are the most active buyers.
Active strategic buyers are Snowflake, Databricks, the cloud majors and the major ERP and data platform groups, alongside infrastructure-focused PE platforms building positions in the modern data stack. Flow has direct access to the data platform strategic acquirers and infrastructure PE buyers that are active buyers in this category.
Flow team has relevant sector experience and has worked with data infrastructure companies across data warehouses and lakehouses, data integration and ETL/ELT, streaming and event infrastructure, vector and feature stores, and data observability and lineage.
"Data infrastructure" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing data infrastructure M&A targets
Consumption revenue
Net retention
Committed-spend backlog
Active customers
Compute / storage units
Gross margin
Workload growth
Customer concentration
Ramp realisation
CAC payback
Data infrastructure valuations in May 2026
Public data infrastructure comps trade at 8.9x EV/Revenue. Median revenue multiple across data infrastructure M&A deals was 6.9x in the last 12 months.
8.9x
Median EV/Revenue as of May 2026 for public data infrastructure companies
12x
Oracle is the highest valued public data infrastructure company based on EV/Revenue (excluding outliers)
6.9x
Median EV/Revenue across data infrastructure M&A deals in the last 12 months
28x
Median EV/Revenue across data infrastructure VC rounds in the last 12 months
Key recent data infrastructure M&A deals
$11B acquisition of Confluent by IBM was the largest data infrastructure M&A transaction completed in the last year.
See all data infrastructure M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Dec-25 | Confluent |  | Confluent Inc operates in the Data Streaming Platform category, setting data in motion to power real time operations, analytics, and artificial intelligence AI. The Company has built a comprehensive platform that enables organizations to stream, connect, process, and govern data in motion across the enterprise. The Data Streaming Platform links applications, systems, and data layers into real time data streams, supporting real time decision making, autonomous agents, and generative AI applications. The platform delivers four key capabilities, Stream, Connect, Process, and Govern, with streaming as the foundation for continuous real time data movement. The Company operates in the United States and international markets, with the majority of revenue coming from the United States. | IBM | $11B | 10x | |
May-25 | Informatica | | Informatica Inc provides artificial intelligence (AI) enabled data management products on a cloud native platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at an enterprise scale. The company’s platform includes a suite of interoperable data management products that leverage the shared services and metadata of the underlying platform, including products for Data Catalog, Data Integration & Engineering, API & Application Integration, Data Quality and Observability, Master Data Management, Customer and Business 360 Applications, Governance, Access and Privacy, and Data Marketplace., allowing customers to track and understand their data. Geographically, the company generates maximum revenue from North America. | Salesforce | $8.0B | 4.6x | |
Nov-25 | Chronosphere | | Chronosphere is an observability platform for cloud-native environments, enabling DevOps teams to monitor metrics, traces, and logs at petabyte scale. San Francisco-headquartered since 2020, it serves clients like DoorDash, Snap, and Zillow, reducing infrastructure costs by up to 50% through hosted Prometheus and custom querying. The platform processes trillions of data points daily across AWS, GCP, and Azure, supporting thousands of engineering teams globally. | Palo Alto Networks | $3.4B | 21x | |
Oct-25 | Securiti | | Securiti is a data security platform offering the Data Command Center for governance, privacy, and compliance across hybrid multicloud setups. San Jose-headquartered since 2019, it unifies data intelligence with automated controls for GenAI usage in AWS, Azure, and Google Cloud. Global enterprises like Mastercard and Broadcom rely on Securiti for DSPM and DLP features. The company earned recognition as a Leader in Forrester's Privacy Management Wave and Gartner's Cool Vendor in Data Security, processing petabytes of data daily for over 300 customers. | Veeam Software | $1.7B | - | |
Jun-25 | Couchbase | | Couchbase is a Mountain View-headquartered NoSQL database platform combining document storage, key-value caching, and SQL querying. Couchbase Server supports JSON documents with N1QL language for analytics and full-text search. It deploys on AWS, Azure, Google Cloud, and on-premises with Capella offering a managed DBaaS. Used by LinkedIn, Cisco, and eBay, Couchbase Capella processes billions of operations daily. | Haveli Investments | $1.5B | 6.9x | |
Jul-25 | Adastra Group |  | Adastra Group is a Montreal-headquartered data and technology consultancy with offices in Europe and North America. The firm implements data warehousing, business intelligence, machine learning, and RPA solutions using Snowflake, Tableau, and UiPath for clients in retail, finance, and healthcare. Adastra has delivered over 1,000 projects transforming petabyte-scale data environments. Founded in 2005, it employs 500 specialists serving Fortune 500 companies. | Carlyle Group | $784M | 3.2x | |
Jul-25 | FD Technologies |  | FD Technologies plc is a London-listed software firm headquartered in New Belfast, Northern Ireland, delivering the KX streaming analytics platform for high-frequency data processing. KX handles petabyte-scale datasets in real time for clients in capital markets, cybersecurity, and healthcare including JPMorgan and Nasdaq. The company processes over 1.5 trillion events daily across its deployments. Founded in 1999, FD Technologies operates globally with offices in New York, Tokyo, and Singapore. | TA Associates | $724M | 7.0x | |
Sep-25 | SingleStore | | SingleStore is a distributed SQL database platform built for real-time analytics, AI workloads, and operational applications. Redwood City-headquartered SingleStore supports hybrid transactional and analytical processing across AWS, Azure, Google Cloud, on-premises environments, and as a fully managed service. The platform ingests streaming data at scale, processes semi-structured formats like JSON and Parquet, and integrates vector search capabilities for generative AI use cases. Enterprises including Uber, Comcast, and Panasonic deploy SingleStore to power customer-facing applications and consolidate data pipelines. | Vector Capital | $500M | 4.1x | |
Aug-25 | ONUM |  | Onum is a data observability platform providing real-time monitoring and automated remediation for cloud infrastructure across AWS, Azure, and GCP. It correlates metrics from 1,000+ sources to detect anomalies, trigger playbooks, and optimize costs, serving SaaS companies with multi-tenant isolation. | CrowdStrike | $290M | - | |
Apr-26 | Bindplane | | Bindplane is an observability platform delivering agent-based data collection and visualization tools. As a contributor to the OpenTelemetry project, it supports metrics, logs, and traces for cloud-native environments used by enterprises and open-source communities. | Dynatrace | $256M | - | |
Jun-25 | Crunchy Data | | Crunchy Data is a Charleston, South Carolina-based provider of PostgreSQL database solutions including Crunchy Bridge managed service on AWS, Azure, and Google Cloud, plus Crunchy Postgres for Kubernetes Operator. It offers enterprise support, security tools like pg_partman, and contributes to PostgreSQL extensions for high-availability clusters. | Snowflake | $250M | 8.3x | |
Feb-26 | OpenText (Vertica unit) | | OpenText Vertica is a columnar analytics database platform optimized for high-velocity querying on large datasets via massively parallel processing. | Rocket Software | $150M | 1.9x | |
Dec-25 | Dataloop AI |  | - | Dell | $120M | 34x | |
Apr-26 | Ryft | | Ryft is an automation platform for Apache Iceberg lakehouses that optimizes table maintenance based on query patterns. It handles compaction, partitioning, and expiration in real-time for data warehouses on S3-compatible storage. Founded in 2023 and headquartered in Tel Aviv, Ryft enforces GDPR compliance through automated governance policies, supporting enterprises with petabyte-scale analytics workloads. | Cyera | $115M | - | |
Dec-25 | 1Spatial | | 1Spatial PLC is engaged in providing Location Master Data Management (LMDM) software, solutions, and business applications. The company serves various industries such as Utilities, Government, Transportation and Infrastructure, Defence, and Engineering. Its product includes 1Integrate, 1Generalise, FME, Geocortex, and others. The company's geographical segments are UK/Ireland, Europe, United States, and Australia. | VertiGIS | $111M | 2.6x |
Most active buyers of data infrastructure companies
Snowflake, Databricks and IBM are the most active acquirers of data infrastructure companies in the last three years.
See all data infrastructure acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Snowflake | | Founded in 2012, Snowflake is a fully managed platform that consolidates data hosted on different public clouds for centralized analytics and governance. Snowflake’s cloud-native architecture allows users to independently scale the compute and storage layers, providing customers with optimized performance at lower costs. The company’s data lake and data warehouse products support a variety of use cases, including business analytics, data engineering, and artificial intelligence. Snowflake is widely used by Fortune 2000 companies in financial services, media, and retail sectors. | Select StarDatometryCrunchy Data+2 | 6 | |
Databricks | | Databricks is a San Francisco-headquartered cloud platform unifying data engineering, analytics, and AI on a lakehouse architecture. Founded in 2013, it supports Delta Lake for reliable data lakes, MLflow for machine learning lifecycle management, and Unity Catalog for governance across workspaces. The platform powers ETL pipelines, serverless SQL warehouses, and generative AI model deployment for enterprises worldwide, including integrations with AWS, Azure, and Google Cloud. | TectonNeonBlade Bridge+2 | 5 | |
IBM | | Incorporated in 1911, International Business Machines, or IBM, is one of the oldest technology companies in the world. It provides software, IT consulting services, and hardware to help business customers modernize their technology workflows. IBM operates in 175 countries and employs approximately 300,000 people. The company has a robust roster of business partners to service its clients, which includes 95% of all Fortune 500 companies. IBM’s products, including Red Hat, watsonx, and mainframes, handle some of the world’s most important data workloads in areas like finance and retail. | ConfluentHakkodaStreamSets+1 | 4 | |
MariaDB | | MariaDB is a Helsinki-headquartered database company providing an open-source relational database server forked from MySQL. The platform integrates into major Linux distributions like Red Hat Enterprise Linux and Ubuntu, powering websites for Wikimedia Foundation and the Finnish government. MariaDB offers enterprise editions with tools such as MaxScale for database clustering and SkySQL for cloud-managed services across AWS, Azure, and Google Cloud. | GridGainSkySQLCodership | 3 | |
Fivetran | | Fivetran is a San Francisco-headquartered data integration platform automating pipelines from over 300 sources to data warehouses like Snowflake and BigQuery. Launched in 2012, it handles schema drifts and API updates through automated connectors for SaaS applications including Salesforce, NetSuite, and Marketo. The service supports ELT workflows with dbt integration for transformations directly in warehouses. Fivetran serves enterprises by ensuring real-time data synchronization for analytics teams worldwide. | dbt LabsTobiko DataCensus | 3 | |
Collibra |  | Collibra is a Brussels-headquartered data governance platform serving enterprises worldwide. Founded in 2008, it offers tools for data cataloging, lineage tracking, quality assessment, and compliance management to democratize data access. The platform integrates with Snowflake, Tableau, and Alation for business intelligence workflows. Collibra supports sectors like finance, healthcare, and manufacturing with clients including Barclays, AstraZeneca, and BNP Paribas. It maintains offices in New York, London, Sydney, and Tokyo following expansions since 2014. | Deasy LabsRaitoHusprey | 3 | |
NVIDIA | | Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence to run large language models. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads. | illumexGretelRun:AI+1 | 3 | |
SAP |  | Founded in Germany in 1972 by former IBM employees, SAP is the world’s largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP’s portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises. | DremioReltioPrior Labs | 2 | |
CommVault Systems | | CommVault Systems Inc provides data and information management software applications and services. The firm sells software licenses and services to large global enterprises, small- and midsize businesses, and government agencies through both its salesforce and its network of reseller partners. Its software solutions include Cleanroom Recovery, HyperScale X, Air Gap Protect, Compliance, Cloud Rewind, and Clumio Backtrack. The company operates in the United States and exports to many other countries. | Satori CyberClumioAppranix | 2 | |
Accenture | | Accenture is a leading IT services firm that provides consulting, system integration, and business process outsourcing to enterprises around the world. Customers of Accenture come from a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture is the world's largest professional services company by headcount with around 800,000 employees in over 120 countries. | Keepler Data TechNaviSiteOokla+1 | 2 |
Founders and investors we've worked with
We've supported winning builders across data infrastructure and beyond.
MAILINGWORK
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
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TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
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Resillion
We provided buy-side advice to a dominant TIC industry player on the carve-out and acquisition of Resillion (fka Eurofins Digital Testing), a Hasselt-based digital testing, cybersecurity and forensics provider.
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Digital Asset Management Software Provider
We provided buy-side advice to Byron Capital Partners on its acquisition of a leading European digital asset management (DAM) software platform.
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Boryszew
We provided buy-side advice to Boryszew, a Warsaw-listed diversified industrial group across automotive, metals and chemicals, on industrial software market mapping and target screening for its buy-and-build strategy.
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