Chinese e-commerce giant Alibaba has acquired German data analysis start-up Data Artisans for close to €90 million, reports Handelsblatt. Whether it is for autonomous driving, online trade or financial transactions: data is more important than ever and more and more data is being collected. Companies all over the world are now competing in finding the best solution to processes these kinds of bulk-data in very short amounts of time. It is a key skill to survive in the digital economy. Data Artisans has developed such a technique and has now been acquired by Alibaba. It is one of the first times that an Asian company is no longer relying on developing future technologies themselves, but rather buying specialised knowledge.
Founders of the German IT-start-up, Kostas Tzoumas and Stephan Ewen said to Handelsblatt: “Both companies share the same goals and values. We chose to merge with Alibaba, as a powerful Chinese powerhouse offers unimagined potential.”