HP Scoops Up Vertica in Analytics Play
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It's no secret that businesses are awash in data these days. And while massive databases might brim with critical business insights, too often retrieving the item of immediate relevance is something like the hunt for a particular needle in a stack of needles.
It's a problem HP is setting out to solve through the acquisition of Vertica, a privately held firm that offers an alternative approach to mining a database for business intelligence and analytics.
"In today's highly competitive environment, customers need the ability to manage the increasing amounts of data and growing streams of information with more flexible, more dynamic architectures," Shane Robison, HP's executive vice president and chief strategy and technology officer, said in a statement. "Vertica's unique platform combines simplicity with industry-leading performance, allowing HP to leap ahead of the industry in the race to analyze massive amounts of data."
Terms of the deal were not disclosed, but HP expects to close the transaction by the end of its second fiscal quarter.
eCRM Guide has the story.