Posted by Bangalore: ThoughtSpot said that it has entered into a definitive agreement to acquire Diyotta, a leader in modern data integration solutions. The company has not disclosed the financials of this acquisition.
With the acquisition, more than 60 new employees in North America and India will join ThoughtSpot’s development of the Modern Analytics Cloud.
The buyout will add 25% more headcount to the global R&D team and 50% to the R&D team in India, including an expanded footprint in Hyderabad. ThoughtSpot now has more than 100 employees based out of India.
The new ties with Diyotta will help ThoughtSpot rapidly expand integrations with best-of-breed services in customers’ modern data stack. Customers will be able to deploy ThoughtSpot seamlessly as part of their modern cloud architecture and deliver instant value to their business.
In particular, the Diyotta acquisition will speed up integrations with modern data platforms, AI and ML services, and data applications built by web developers.
Customers require the ability to leverage a custom stack built from the best the industry offers to address their specific challenges. The Modern Analytics Cloud by ThoughtSpot gives organisations a consumer-grade platform to engage with this new data ecosystem.
Companies can build the data stack of their choice, and then empower all of their employees, customers, and partners to take advantage of these investments through a simple, open, and actionable analytics platform.
The acquisition of Diyotta will further accelerate expanding the ecosystem for the Modern Analytics Cloud, helping connect and integrate ThoughtSpot’s analytics platform with technologies across this burgeoning industry.
“We’ve been fans of the work Diyotta has done to help their customers solve some of the toughest challenges involved in integrating their data into their business workflows,” said Sumeet Arora, Chief Development Officer, ThoughtSpot.
Diyotta’s team understands the dynamic, nuanced ecosystem and unique problems companies face in transforming how they leverage their data to drive processes and change decision-making,” added Arora.
“As we unlock more value for our customers with the Modern Analytics Cloud, Diyotta’s experience and shared vision for bringing together people, processes, and data was a perfect complement,” added Arora.
According to Diyotta CEO and Co-Fonder Sanjay Vyas, both ThoughtSpot and Diyotta have large, shared enterprise customers. ” And with this merger, we are looking to provide more comprehensive applications in order to make cloud analytics seamless,” said Vyas.
“By joining forces with ThoughtSpot, we’re going to be able to expand how we help these businesses empower their entire team with data,” added Vyas. Diyotta.
“The Modern Analytics Cloud democratizes the most cutting edge innovations in the data ecosystem by putting them in the hands of every employee. I’m incredibly excited to help advance that important mission,” noted Vyas.