MongoDB Strengthens Mobile Offerings with Acquisition of Realm
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."
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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.
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SOURCE MongoDB, Inc.
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