IBM is confirming its acquisition of a startup called Compose, a privately held company that provides MongoDB, Redis, Elasticsearch, PostgreSQL, and other database as a service (DBaaS) offerings targeted at web and mobile app developers.
According to the tech giant’s statement to the press, the acquisition furthers IBM’s “commitment to accelerating developer productivity and innovation” around open source and cloud data services.
As of this writing, no financial details related to the acquisition have been released. Nonetheless, all signs point to a smart investment by IBM. As the company explains, the cloud database arena is projected to be worth $14 billion by 2019, and open source databases like MongoDB are a significant part —and rapidly growing portion —of this sector.
“Compose’s breadth of database offerings will expand IBM’s Bluemix platform for the many app developers seeking production-ready databases built on open source,” said Derek Schoettle, General Manager of IBM Cloud Data Services. “Compose furthers IBM’s commitment to ensuring developers have access to the right tools for the job by offering the broadest set of DBaaS service and the flexibility of hybrid cloud deployment.”