Hard Times at MariaDB
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The Register UK ☛ MariaDB receives offer to go private after disastrous IPO • The Register
MariaDB has confirmed a possible offer of $37.3 million from private equity company K1 Investment Management to take the recently troubled database company private.
In an announcement last night, MariaDB plc, which is separate from the MariaDB Foundation running the open source project, said it had received an "unsolicited non-binding indicative proposal to acquire the company's shares through K5 Private Investors," a fund controlled by K1. MariaDB said its board was reviewing the offer and taking advice.
K1 first announced its possible offer of $0.55 per share late on Friday. The value is equivalent to $37.3 million. Estimates of the company's valuation based on its current share price are around $23 million.
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Silicon Angle ☛ Database maker MariaDB receives $37M takeover proposal
MariaDB plc, a company that commercializes the open-source relational database of the same name, has received takeover interest from K1 Investment Management.