NEW YORK, April 24, 2019 /PRNewswire/ -- Today MongoDB,
Inc. (Nasdaq: MDB), the leading modern, general purpose database
platform, announced it has entered into a definitive agreement to
acquire Realm, the company behind the Realm mobile database and
Synchronization Platform, for $39
million in cash, subject to certain adjustments. The
acquisition is expected to close in the second quarter of MongoDB's
fiscal year ending Jan. 31, 2020,
subject to the satisfaction of customary closing conditions.
"Realm is incredibly popular with mobile developers because it
makes it easy for them to work with data to accelerate innovation,
which is very consistent with our own philosophy," said Dev
Ittycheria, President & CEO, MongoDB. "This acquisition is a
natural fit for our global cloud database, MongoDB Atlas, as well
as a complement to Stitch, our serverless platform. We look forward
to working closely with Realm's strong engineering talent and the
vibrant developer community to capture additional share in the
database market by giving developers a far more flexible, intuitive
and comprehensive way to work with mobile data."
The acquisition of Realm will deepen MongoDB's relationship with
developer communities focused on mobile and serverless development.
There are more than 100,000 active developers using Realm, and the
solution has been downloaded more than 2 billion times.
"MongoDB's guiding mission is to make working with data
incredibly easy for developers," said David
Ratner, CEO, Realm. "We believe this is the perfect marriage
so we can continue what we started Realm to do - helping mobile
developers build better apps faster and helping both the community
and enterprises support their use-cases across offline-first
requirements, digital transformation, user experience and IoT.
Together, we will work to deliver innovative solutions from Cloud
to the Edge, providing highly responsive user interfaces and
experiences to an even larger community of mobile developers."
Resources:
- Blog from MongoDB CTO & co-founder Eliot Horowitz
- Blog from Realm CEO David
Ratner
About MongoDB
MongoDB is the leading modern, general purpose database
platform, designed to unleash the power of software and data for
developers and the applications they build. Headquartered in
New York, MongoDB has more than
13,000 customers in over 100 countries. The MongoDB database
platform has been downloaded over 60 million times and there have
been more than one million MongoDB University registrations.
Forward-Looking Statements
This press release includes certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements include, but are not
limited to, plans, objectives, expectations and intentions and
other statements contained in this press release that are not
historical facts and statements identified by words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "project," "will," "would" or the negative
or plural of these words or similar expressions or variations,
including statements concerning the potential benefits and effects
of the proposed transaction on MongoDB's business, MongoDB's
relationship with developer communities, growth of the MongoDB
Atlas and Stitch businesses, and MongoDB's ability to continue
capturing share of the database market. These forward-looking
statements reflect MongoDB's current views about its plans,
intentions, expectations, strategies and prospects, which are based
on the information currently available to it and on assumptions it
has made. Although MongoDB believes that its plans, intentions,
expectations, strategies and prospects as reflected in or suggested
by those forward-looking statements are reasonable, it can give no
assurance that the plans, intentions, expectations or strategies
will be attained or achieved. Furthermore, actual results may
differ materially from those described in the forward-looking
statements and are subject to a variety of assumptions,
uncertainties, risks and factors that are beyond its control
including, without limitation: the risk that the transaction may
not be completed in a timely manner or at all; failure to achieve
the expected benefits of the transaction; MongoDB's ability to
implement its plans, objectives and other expectations with respect
to Realm's business; negative effects of the announcement or the
consummation of the transaction on our business operations,
operating results or share price; significant transaction costs;
unknown liabilities; limited operating history of both MongoDB and
Realm; failure of the MongoDB or Realm database platforms to
satisfy customer demands; the effects of increased competition;
MongoDB's ability to effectively expand its sales and marketing
organization; MongoDB's ability to continue to build and maintain
credibility with the developer community; MongoDB's ability to add
new customers or increase sales to its existing customers;
MongoDB's ability to maintain, protect, enforce and enhance its
intellectual property; the growth and expansion of the market for
database products and MongoDB's ability to penetrate that market;
MongoDB's ability to maintain the security of our software and
adequately address privacy concerns; MongoDB's ability to manage
our growth effectively and successfully recruit additional
highly-qualified personnel; the price volatility of MongoDB's
common stock; and those risks detailed from time-to-time under the
caption "Risk Factors" and elsewhere in MongoDB's Securities and
Exchange Commission filings and reports, including its Annual
Report on Form 10-K filed on April 1,
2019, as well as future filings and reports by MongoDB.
Except as required by law, MongoDB undertakes no duty or obligation
to update any forward-looking statements contained in this release
as a result of new information, future events, changes in
expectations or otherwise.
Investor Relations
Brian Denyeau
ICR
646-277-1251
ir@mongodb.com
Media Relations
Mark Wheeler
MongoDB
866-237-8815 x7186
communications@mongodb.com
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SOURCE MongoDB, Inc.