Orrick advised Stitch on the deal
Talend (Nasdaq:TLND) has entered into a definitive agreement to acquire Stitch, a leader in the fast-growing, self-service data integration market.
Stitch offers an easy-to-use service for moving data from popular sources to leading cloud data warehouse platforms. The acquisition gives Talend both a strong solution for the cloud data warehouse market and a frictionless sales motion to land new cloud customers efficiently.
As companies standardize on using the cloud for analytics, users increasingly need to load cloud data warehouses and data lakes quickly. Most departments and small businesses lack the bandwidth and sometimes the skill set to use existing solutions, causing delays that lead to missed opportunities and poor customer experiences. Stitch, which will be rebranded as Stitch Data Loader, overcomes this set of challenges by enabling a broader population of users, including data scientists, data and business analysts, and engineers, to load data without relying on data integration specialists.
In addition to enhancing Talend’s product portfolio, the acquisition is expected to help strengthen Talend’s value proposition for cloud ecosystem partners including data warehouse partners such as AWS, Azure, Google, and Snowflake.
Upon closing, Jake Stein will become SVP of the Stitch business unit reporting directly to Talend, CEO, Mike Tuchen.To learn more about Stitch or try the service for free, visit Stitch.
Under the terms of the agreement, Talend will acquire Stitch for approximately $60 million in cash, subject to certain transaction adjustments.
The transaction is expected to close later in the fourth quarter subject to customary closing conditions.
Orrick advised Stitch with a team including partners Tal Hacohen (Picture), Pete Fusco, Jonathan Chou, Julianne English, Spencer Cohen, Frank Paz and Andrew Wallach. Additional assistance was provided by Mitchel Pahl, James McQuade, Stephen Lessard, John Narducci, Ramin Tohidi, William Wilson, Harry Clark and Greg Hume.
Involved fees earner: Jonathan Chou – Orrick; Harry Clark – Orrick; Spencer Cohen – Orrick; Peter Fusco – Orrick; Tal Hacohen – Orrick; Gregory Hume – Orrick; Stephen Lessard – Orrick; James McQuade – Orrick; John Narducci – Orrick; Mitchel Pahl – Orrick; Frank Paz – Orrick; Ramin Tohidi – Orrick; William Wilson – Orrick;
Law Firms: Orrick;
Clients: Stitch, Inc.;