Mobilize.Net Closes Acquisition by Snowflake Following Carve-Out of App Migration Business Unit
Separation and sale of units follows decade of innovation and accelerating growth
BELLEVUE, Wash., February 13, 2023 (Newswire.com) - Mobilize.Net announced the closing of its acquisition by Snowflake (NYSE: SNOW), the Data Cloud company, following the separation and sale of its Application Migration Unit to Growth Acceleration Partners ("GAP") of Austin, Texas.
The App Unit sold to GAP includes the WebMAP family of cloud native app migration products, the Visual Basic Upgrade Companion, associated services teams, marketing assets including the Mobilize.Net brand and website, and relationships with thousands of customers. Mobilize.Net and the Data Business Unit acquired by Snowflake includes the SnowConvert family of data migration products, BlackDiamond Studio developer tools for Snowflake, and associated product engineering teams.
"These business units grew from a common technical foundation, but now serve very different customers and market needs," said Tom Button, Mobilize.Net Chairman and CEO. "As leaders in code understanding and transformation tools in their categories, we are excited for these business units to join organizations like Snowflake and GAP with complementary offerings that can deliver even more value to customers."
Comments on the News:
"Mobilize.Net recruited a gifted team of people in the U.S., and Costa Rica, Colombia, and Mexico, who over 20 years created an outstanding technology core that evolved into two market-leading businesses. I'm honored to have been a part of that success. The management team executed on their plan to grow organically, profitably, debt free, while delivering great return to shareholders. The strategic fit with both Snowflake and GAP is a testament to the vision, execution and talent of Mobilize.Net. It has been a privilege to partner with this highly principled team." - Michael Shea, Managing Director of Shea & Company, investor and Board Director
"Having been involved in the company's technology and strategy for over 20 years, I'm so impressed by the resilience, creativity, skills, and grit of the engineering team that has repeatedly built best-in-class analytics and transformation technology across vastly differing technology platforms and customer segments." - Rick LaPlante, investor and Board Director of Mobilize.Net
"Snowflake is excited to add SnowConvert and BlackDiamond Studio to our growing suite of tools that empower organizations to more quickly and easily mobilize data for business value. Mobilize has been an important Snowflake partner for years, providing valuable tools and technology to our organization and our customers. We are thrilled to make that partnership permanent with this acquisition." - Ted Brackin, Snowflake VP of Professional Services
"As a strategic technology solutions partner, GAP helps companies accelerate their time to value through technology modernization. This acquisition is a vital component to our future growth as we offer a full complement of services to the digital transformation market. Mobilize.Net's ability to Modernize Applications perfectly complements GAP's existing Transformation Advisory Services, where we already help clients Modernize for Data Analytics and the Cloud. Plus, GAP and Mobilize share core values, and this alignment in culture will help us continue to do great things." - Joyce Durst, co-founder and CEO of Growth Acceleration Partners
"When we started Mobilize.Net, we agreed on a core set of standup principles, enabling profitable, organic growth at over 70% year over year, without debt, dilution or layoffs. As nostalgic as we feel about the family we've built here, we feel great about the strategic value created and opportunities that lie ahead." - Tom Button, Chairman and CEO of Mobilize.Net
To learn more about Mobilize.Net, visit the Mobilize.Net About page with thoughts from employees, board members, shareholders, and customers.