Join top executives in San Francisco on July 11-12, to hear how leaders are integrating and optimizing AI investments for success. Learn More
Cloud-computing giant Rackspace has made a small but smart acquisition in ObjectRocket, a MongoDB database service.
Rackspace senior vice president of corporate development Pat Matthews said, “Customers have been asking for a powerful database,” and the acquisition is in line with their open cloud strategy. MongoDB was the best option from Rackspace’s perspective as it’s one of the fastest growing NoSQL open source databases, and many existing customers already use it.
According to a report from British technology research firm The 451 Group, NoSQL software revenue is expected to grow at an annual of 82 percent to reach £141 million ($214 million) by 2015.
Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls.
In the future, Rackspace is likely to support other database technologies.
ObjectRocket co-founder Kenny Gorman has been recognized as a “MongoDB Master,” an award 10gen gives to only 35 MongoDB contributors around the world. (Check out a video interview with Gorman and Rackspace’s chief developer evangelist Robert Scoble below.)
The full team will relocate to Rackspace’s San Antonio headquarters (they previously worked remotely), and customers should see the benefits of an integration in a matter of weeks.
On the topic of Rackspace’s broader acquisition strategy, Matthews revealed that his team doesn’t plan to buy established companies. “We have a good sales and marketing engine and know how to acquire customers,” he said. Instead, they are on the lookout for small, under-the-radar teams with impressive technology. The company’s other recent acquisition, MailGun, was a six-person operation with just a seed round of funding.
Rackspace has not disclosed the terms of the deal.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.