BENGALURU: IBM on Thursday announced the acquisition of data observability software Databand.ai, which helps organisations fix issues with their data, including errors, pipeline failures and poor quality.
The company did not disclose financial details, and the acquisition closed on June 27, 2022.
Databand.ai, which is headquartered in Tel Aviv, Israel, is IBM’s fifth acquisition in 2022. It has acquired more than 25 companies since April 2020. IBM says data observability is quickly emerging as a key solution for helping data teams and engineers better understand the health of data in their system and automatically identify, troubleshoot and resolve issues, like anomalies, breaking data changes or pipeline failures, in near real-time.
According to Gartner, every year poor data quality costs organisations an average $12.9 million. The acquisition of Databand.ai builds on IBM’s research and development investments as well as strategic acquisitions in AI and automation.
“You can’t protect what you can’t see, and when the data platform is ineffective, everyone is impacted –including customers,” said Josh Benamram, Co-Founder and CEO, Databand.ai. Databand.ai is backed by leading VCs Accel, Blumberg Capital, Bessemer Venture Partners, Hyperwise and F2, among others.