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Hewlett-Packard Co. (NYSE: HPQ) has agreed to acquire Vertica Systems Inc., a venture-backed analytic database management software company in Billerica, founded by serial entrepreneur Michael Stonebraker. Terms of the deal were not disclosed.
Founded in 2005 by Stonebraker and frequent collaborator Andy Palmer, Vertica said in a 2007 press release that it had raised $23.5 million, although filings with the U.S. Securities and Exchange Commission indicate that the total may have been as high as $29.5 million. Venture capital firms investing in the company included Bessemer Venture Partners of Cambridge, Highland Capital Partners of Lexington, and Kleiner Perkins Caulfield & Byers of Menlo Park, Calif. Its last round, a Series B, closed in February, 2007, led by Kleiner. Highland and Bessemer had both invested in the Series A.
Vertica makes SQL database management software designed to derive business intelligence from complex and large sets of data, in real-time. Last April, Vertica brought in Chris Lynch, formerly CEO of Acopia Networks, acquired in 2007 by F5 Networks for $210 million. At the time he joined Vertica, Lynch said the company had over 130 customers, with each contract in the “six and seven figures,” and expected to see triple-digit growth in 2010.
The HP acquisition is expected to close in the second quarter of 2011.
Stonebraker was named a Mass High Tech All-Star honoree in 2008.
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