SAP to acquire Dremio, an open data lakehouse provider, and Prior Labs, which it pledges to invest €1B in over four years, hoping to create a frontier AI lab (Larry Dignan/Constellation Research)
SAP is acquiring Dremio, an open data lakehouse provider, and Prior Labs, with plans to invest €1 billion over four years to establish a frontier AI lab. The move aims to strengthen SAP's position in data and artificial intelligence technologies. Financial terms of the acquisitions were not disclosed.
- ▪SAP is acquiring Dremio, a provider of open data lakehouse technology.
- ▪SAP is also acquiring Prior Labs, which it plans to develop into a frontier AI lab.
- ▪SAP has pledged to invest €1 billion in Prior Labs over four years.
- ▪The acquisitions are intended to enhance SAP's data and AI capabilities.
- ▪Financial details of the deals were not made public.
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