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Struggling database company MariaDB could be taken private in $37M deal
MariaDB is the subject of a potential takeover bid, as the company confirmed it has received an offer from K1 Investment Management.
The commercial entity behind MariaDB raised some $125 million in venture funding through the years to develop premium features and services on top of the core project, eventually going public in December 2022 via a special purpose acquisition company (SPAC). At the heart of all this has been a string of sub-par earning reports, with the New York Stock Exchange (NYSE) warning MariaDB in September that it wasn’t in compliance with listing rules that stipulate a company’s average global market capitalization can’t fall below $50 million over a consecutive 30-day trading period. There is no guarantee that K1 will place a formal bid for MariaDB, but unlike Runa Capital which is more of a traditional VC, K1 has a track record of later-stage investments over its 12-year history that positions it closer toward the private equity realm.
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