IBM boosts its data and AI capabilities with the latest acquisition
IBM's acquisition of Databand positions it among the leaders of data management
IBM announced that it would acquire Databand, a Tel Aviv-based observability platform for data and machine learning pipelines. Databand was established by Josh Benamram, Victor Shafran and Evgeny Shulman in 2018.
The company has thus far raised approximately $14.5 million in previous fundraising efforts. The main users of the platform are engineers who have a convenient view on where bottlenecks or anomalies are appearing and the potential reasons why.
The acquisition is set to take place in a rapid manner, finalising on July 27. The terms of acquisition envisage that Databan’s employees will join IBM’s divisions for data and AI.
Daniel Hernandez, IBM general manager for data and AI, noted that the acquisition would improve IBM’s competitiveness within the data market, simultaneously, also complementing IBM’s existing portfolio by allowing customers to better identify and fix data issues, including errors, pipeline failures and poor quality.
