Data warehousing company Teradata has managed to sign a definitive agreement to buy out Aster Data Systems, which specialises in analytics and data management.
Teradata believes it is the leader in data warehousing and thinks having Aster Data in its roster will help it along the way, offering the chance for clients to sift through and lever volumes of data to “drive profitable growth”.
Teradata will receive Aster Data’s business, intellectual property and comple technology product line through a merger. Aster Data’s customers will come with the package, too, and employees can expect to be “integrated” not sacked as soon as the acquisition completes.
Following on from Teradta’s 11 percent ownership in Aster Data in September 2010, it has agreed to shell out for the rest with an additional $263 million, including net of debt and expenses. It says it will receive the $21 million on Aster Data’s balance sheet when the deal closes.