Market Overview

MongoDB Acquires mLab, Expands Global Cloud Database

MongoDB Acquires mLab, Expands Global Cloud Database

Software developer company, MongoDB, Inc. (NASDAQ: MDB) operates in a competitive landscape among huge players like Microsoft Corp. (NASDAQ: MSFT),, Inc. (NASDAQ: AMZN) and IBM (NYSE: IBM). This week, the company moved to increase its industry leverage substantially.

What Happened

The software company announced a definitive agreement to acquire cloud database service mLab. The acquisition is expected to close in the fourth quarter of fiscal 2019 and gives mLab a better opportunity to develop relationships with startup communities, per the press release.

MongoDB is the leading general purpose database platform, with over 7,000 customers in 100 countries. The database has been utilized over 40 million times, with more than 1 million MongoDB University registrations, according to the press release.

Why It’s Important

“MongoDB represents a dramatic sea change in how application developers work with data,” mLAB CEO Will Shulman said in a statement.

“There is a trend toward building software systems via microservices and deploying those systems in the cloud. As this trend continues, we anticipate it will open enormous market opportunities for global cloud databases, and MongoDB will be well-positioned to power these types of software systems in ways that other database technologies cannot.”

Considering the existing 1 million hosted databases on its platform, this acquisition represents a huge win for MongoDB. 

What’s Next

MongoDB users should expect to see additions to existing products and services while the company expands and diversifies, according to the announcement.

“Atlas has seen tremendous momentum in its first two years since launch, growing over 400 percent year-over-year in the second quarter of this year. This reflects the popularity of MongoDB in the public cloud and the desire by many customers to consume MongoDB as a service,” said MongoDB CEO Dev Ittycheria. “The mLab acquisition will give us the ability to scale Atlas even faster.”

Related Links:

Analyst Downgrades Mongodb To Reflect 'Intense Competition'

DA Davidson Sees Near-Term Stabilization In MongoDB

Posted-In: acquisition Cloud Software mLab MongoDB MongoDB AtlasM&A News Best of Benzinga


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