MariaDB may be purchased by investment fund K1 – Kommersant
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The developer of the MariaDB data processing and storage system, which went public in December 2022, may once again become a private company. Company reportedwhich received last Friday, February 15, an offer from K1 Investment Management to purchase all its shares.
K1 ready buy back MariaDB shares at a price of $0.55 each. Thus, the investment fund estimated the value of the technology company at $37 million. However, the form of purchase has not yet been determined. MariaDB said its board of directors will review the proposal.
The MariaDB database management system is an offshoot of the MySQL system created by the Swedish startup of the same name. In 2009, MySQL was acquired by Oracle, after which the MariaDB developers decided to spin off their product into a separate company.
The commercial entity behind MariaDB has raised approximately $230 million in venture capital over the years. In December 2022, MariaDB went public through a merger with a SPAC. However, the company’s market capitalization collapsed from its initial $445 million to $12 million at the end of January of this year. Now its value is $23 million.
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