With the aim to capture the growing data observability solutions market, IBM acquires Databand.ai
Mumbai: IBM announced that it has acquired a data observability software provider Databand.ai. Headquartered in Tel Aviv, Isreal, Databand.ai provides data observability software helping organisations fix issues with their data, including errors, pipeline failures and poor quality and its impacts on business.
IBM acquires Databand.ai for an undisclosed sum
With the Databand.ai acquisition, IBM further strengthens its software portfolio across data, AI and automation with the addition of the data observability piece.
Data observability solutions are also a key part of an organisation’s broader data strategy and architecture. The Databand.ai acquisition further extends IBM’s existing data fabric solution.
“With the addition of Databand.ai, IBM offers the most comprehensive set of observability capabilities for IT across applications, data and machine learning,” said Daniel Hernandez, GM – Data and AI, IBM.
The combination of Databand.ai with IBM Observability by Instana APM and IBM Watson Studio gives IBM the wider capabilities to address data observability across IT operations.
Databand.ai and IBM Instana provide a more complete and explainable view of the entire application infrastructure and data platform system, which can help organisations prevent lost revenue and reputation.
However, IBM has not revealed the financial terms of this acquisition, which closed on June 27, 2022.
“Joining IBM will help us scale our software and significantly accelerate our ability to meet the evolving needs of enterprise clients,” said Josh Benamram, Co-Founder and CEO of Databand.ai.
Global brands such as FanDuel, Agoda and Trax Retail already rely on Databand.ai to remove bad data surprises by detecting and resolving them before they create costly business impacts, according to Benamram.
According to Gartner, every year poor data quality costs organisations an average of $12.9 million. To help mitigate this challenge, the data observability market is poised for strong growth.
Interestingly, the Databand.ai acquisition is IBM’s fifth buyout in 2022. The Armonk – USA headquartered company has been focusing on bolstering its hybrid cloud and AI skills and capabilities. Since April 2020, IBM has acquired over 25 companies under the new CEO Arvind Krishna.