Sources report that Cambridge-based Hadapt has been acquired by Teradata.
Word from those close to the deal is that the acquisition involves a combination of cash and stock worth $50 million.
Teradata, a big data/business analytics company headquartered in Ohio, has offices in San Diego and Georgia. From what I hear, Hadapt will remain in the Boston area, its team will stay intact, and it will become a “Teradata company”; but, of course those details can change.
I’m told Hadapt will expand the number of employees it has, making the Boston unit one of Teradata’s most important strategic hubs.
Hadapt’s chief executive Justin Borgman will report to Teradata Lab’s president Scott Gnau in a vice president capacity.
Hadapt has raised $16.2 million from Atlas Venture, Bessemer Venture Partners, and Norwest Venture Partners. Board members include Jit Saxena, Chris Lynch of Atlas, Bessemer’s Felda Hardymon, and Norwest’s Matt Howard.
More details will be included once we get them.
Note: This story has been modified since it was originally posted to indicate that multiple sources confirmed the news.