China's Alibaba Group Holding acquired Data Artisans, a German data analytics firm based in Berlin, in an agreement reported to be worth around € 90 thousand (RM426.31 thousand). The transaction marks the first full takeover of the growing start-up scene of a Chinese company in Berlin. In March 2018, Alibaba's rival Tencent Holdings participated in a round of funding of US$160 thousand (RM655.29 thousand) for online bank N26.
Kostas Tzoumas, CEO of Data Artisans, said Alibaba would also invest an undisclosed sum in the company to develop its open- source software Apache Flink, which can process large data volumes and expand into new business areas. The deal price in the media, including the German daily Handelsblatt, was reported to be EUR 90 million( RM426.31 million). The customers refused to comment on the purchase price.
Alibaba, competing with the Amazon.com e-commerce group, has been a Data Artisans customer since 2016. The German company established in 2014 also serves customers such as Netflix and Uber. " Live fraud detection, direct interaction with Internet users and real-time financial transactions are typical usage cases," said Tzoumas.
Alibaba said this week that it is deepening its partnership with Data Artisans and developing software capable of processing large amounts of data.
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