MongoDB (NASDAQ: MDB) has entered an agreement to buy Realm, the company behind the Realm mobile database and Synchronization Platform, for $39 million in cash.
What Happened
The acquisition is expected to deepen MongoDB's relationship with developer communities focused on mobile and serverless development, MongoDB said in the press release.
More than 100,000 active developers use Realm and the solution has been downloaded more than 2 billion times.
Why It's Important
"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," MongoDB President and CEO Dev Ittycheria said in a statement.
"This acquisition is a natural fit for our global cloud database, MongoDB Atlas, as well as a complement to Stitch, our serverless platform."
Realm CEO David Ratner said the M&A deal is "the perfect marriage" allowing Realm to continue helping mobile developers reach their goals.
"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.”
What's Next
The acquisition is expected to close in the second quarter of MongoDB's fiscal year ending Jan. 31, 2020, subject to customary closing conditions.
MongoDB shares were down 1.9 percent at $134.72 at the time of publication Wendesday.
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