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OpenAI completes acquisition of Rockset to enhance enterprise AI offerings

Jun 21, 2024•over 1 year ago

Acquiring Company

OpenAI

Acquired Company

Rockset

San FranciscoSan MateoresearchArtificial IntelligenceBlockchainFintechMachine LearningArtificial IntelligenceE Commerce

Description

OpenAI, the AI firm renowned for its AI models like ChatGPT, has acquired enterprise search and analytics startup Rockset. This acquisition is notable for OpenAI’s plan to fully integrate Rockset’s technology and key personnel, diverging from its previous talent-driven strategy.

Company Information

Company

OpenAI

Location

3180 18th Street

San Francisco, California, United States

About

The latter will receive a multi-year, multi-billion-dollar investment from the company — the exact dollar amount wasn’t disclosed — that OpenAI says will be used to continue its independent research and “develop AI that is increasingly safe, useful and powerful.”OpenAI will remain a capped-profit company as a part of the deal.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed