Realm was acquired for $39M by MongoDB.
Realm, a Copenhagen, Denmark and San Francisco, USA-based developer of a light open-source database for mobile applications, announced that it has entered into the agreement to be acquired by MongoDB.
The acquisition deal is reported to be closed at $39 million in cash with subject to certain adjustments.
The deal is supposed to be completed in the second quarter of MongoDB's fiscal year by January 31, 2020 and is subject to customary closing conditions.
The acquisition of the Realm’s open source online database will improve the MongoDB’s relationship with mobile developers. The company will also get user base and engineering talent.
Realm, founded in 2011 by former Nokia employees Alexander Stigsen and Bjarne Christiansen and led by CEO David Ratner, built a compact engine that included kernel written in C++ for performance with APIs allowing developers to create the logic in the language of choice. This is a very small database, less than 1MB, which is supposed to save weeks of coding work. With a few lines of code, developers can add the database to their app, says co-founder
Realm’s products and tools are used by over 100,000 developers and 350 companies.
Realm had raised almost $30M in venture capital and was backed by investors including American VCs Khosla Ventures and Scale Venture Partners. The company was part of Y Combinator in 2011.