Advance Publications Acquires 1010data for $500,000,000

  • Feed Type
  • Date
    8/5/2015
  • Company Name
    1010data
  • Mailing Address
    750 Third Avenue 4th Floor New York, NY 10017 USA
  • Company Description
    1010data was founded in 2000 by pioneers of large-scale data systems on Wall Street. Drawing on that experience and newly available technologies, the company developed a web-based service and the underlying software that makes it easy to acquire, organize, manage, and analyze large volumes of complex, interrelated data.
  • Website
    http://www.1010data.com
  • Transaction Type
    M&A
  • Transaction Amount
    $500,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Through this transaction, Advance will provide 1010data with the capital required to accelerate the market adoption of its platform, whose disruptive value proposition has been challenging the traditional business intelligence and data warehouse vendors. 1010data management will continue to lead the company, retaining a stake in the new entity. New capital will be used primarily to invest in the platform, scale sales and marketing operations, expand product offerings and grow into new industries and geographies, while maintaining the high level of support that customers have come to rely upon.