Last week, we wrote that Teradata was rumored to be buying Cambridge big data startup Hadapt in a $50 million cash and stock deal. On Tuesday, the data analytics giant announced it had acquired not one, but two companies: Hadapt, along with Revelytix.
“We welcome Revelytix and Hadapt employees to Teradata and we look forward to their contributions in helping Teradata Labs accelerate delivery of big data solutions for our customers,” said Scott Gnau, president of Teradata Labs, in the release.
From Gnau’s statement, it looks like both Hadapt and Revelytix teams will join Teradata in full.
“On the West Coast, you rent people. In Boston, people commit to things and build stuff.”
Hadapt investor and Atlas Venture Partner Chris Lynch told BostInno that the local startup will remain in the Boston area and become a “center of excellence for all things Teradata.” The 30-person Cambridge company will serve as the Teradata’s research development and product development outpost.
Last winter, Hadapt was said to have shed a quarter of its employees, many of them engineers. When asked if the terminations had anything to do with the Teradata deal, Lynch stated that they lost around “10 percent” of the team and “20 percent of the bottom of engineering due to performance pruning.”
“It’s a great outcome for the team. I’m excited to see one of the preeminent players in big data move into Boston and Cambridge,” said the Atlas Venture partner. Continued Lynch:
I think they’re going to find that there’s a better class of talent here in Boston that’s more loyal and committed to building stuff. … On the West Coast, you rent people. In Boston, people commit to things and build stuff.
Lynch could not confirm the terms of the deal.
Founded in 2010, Hadapt has raised $16.2 million from Atlas Venture, Bessemer Venture Partners and Norwest Venture Partners. Jit Saxena, Chris Lynch of Atlas, Bessemer’s Felda Hardymon and Northwest’s Matt Howard all have seats on the company’s board.
Image via Atlas Venture