Hitachi Data Systems (HDS) is acquiring open source business intelligence and analytics company Pentaho.
HDS, best known for its storage business, has picked up Pentaho as it looks to move into big data and the Internet of Things. The value of the acquisition has not been announced, however, reports suggest the price is between $500m and $600m.
Pentaho was founded in 2004 by CEO Richard Daley, who became chief strategy office in 2011 after being replaced by current CEO Quentin Gallivan. The company has raised around $70m in venture capital since 2005. Other companies Gallivan has led to an exit include managed security firm Postini, which Google acquired in 2007, and big data company Aster Data, which Teradata bought in 2011.
Pentaho has made a name for itself as a provider of open source business intelligence software, as well as tools that let businesses integrate data from Hadoop and NoSQL databases, such as Cassandra, MongoDB, HBase, HDFS, and Hive, and condense that data into digestible visualisations to aid modelling and reporting.
HDS will keep the Pentaho brand and place the unit in its 'social innovation and global industries' unit.
Ahead of today's announcement, HDS parent company Hitachi named Jack Domme, the US CEO of HDS, as its new chief of Hitachi America.
The move is part of a new global management strategy aimed at growing the company's social innovation business, which includes everything from hydraulic excavators to automotive systems and escalators.
"By harnessing the expertise across the Hitachi companies to deliver social innovation solutions - software, services, deep industry expertise, and the consulting needed to launch complex solutions - we can quickly accelerate our global growth. Ultimately our goal is to deliver business and social outcomes to help our customers win, while making the world healthier, safer, and more secure," Domme said.
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