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SAP is acquiring big data startup Altiscale for over $125 million

Enterprise software company SAP is acquiring Altiscale, a startup that offers a cloud-based version of the Hadoop open source software for storing, processing, and analyzing lots of different kinds of data.

The deal could be valued above $125 million. The investors are slated to receive three to four times as much money as they have put in. The startup has raised at least $42 million in venture capital, including a $30 million round announced in December 2014. Investors include Accel Partners, AME Cloud Ventures, Northgate, General Catalyst Partners, Sequoia Capital, and Wildcat Venture Partners.

SAP has taken steps to enhance its cloud software portfolio. This deal gives SAP one of the best known providers in the category called Hadoop as a service.

Venture Beat (25 Aug)