India, May 14 -- Databricks, the San Francisco-based data and AI platform valued at $62 billion, announced plans to acquire Neon, a cloud-native, open-source PostgreSQL database startup, for approximately $1 billion.
The acquisition underscores Databricks' strategy to strengthen its position in cloud-based data infrastructure and follows its recent billion-dollar deals for MosaicML and Tabular.
Founded in 2021 by former Meta and Microsoft engineer Nikita Shamgunov, Neon has quickly gained traction with over 18,000 customers, including OpenAI, Adobe, Boston Consulting Group, Replit, and Vercel.
The company's database technology separates compute from storage, offering improved scalability and cost efficiency-key advantages over Amazon Web...