As of December 20, 2023, Snowflake’s acquisition of Samooha has closed.
When businesses share sensitive first-party data with outside partners or customers, they must do so in a way that meets strict governance requirements around security and privacy. Data clean rooms have emerged as the technology to meet this need, enabling interoperability where multiple parties can collaborate on and analyze sensitive data in a governed way without exposing direct access to the underlying data and business logic.
Data clean rooms have been adopted quickly by media and entertainment companies as a way to provide personalized experiences and services for their customers especially given the evolving technology and regulatory privacy context. We now see data clean rooms gaining traction in other industries too, especially highly regulated industries like financial services and healthcare, for secure collaboration on highly sensitive data.
Snowflake is a pioneer in data clean rooms enhanced by the unified set of compliance, security, privacy, interoperability, and access capabilities of Snowflake Horizon. We have continuously invested in privacy-preserving technology including the acquisition of LeapYear, a differential privacy platform.
We’re excited to announce today that Snowflake has entered into a definitive agreement to acquire Samooha to accelerate our vision for removing the technical, collaboration, and financial barriers to unlocking value with data clean rooms. Samooha is built for developers and business users and delivers industry specific analysis templates. Samooha’s intuitive user interface makes it easy to build data clean rooms that run as Snowflake Native Apps in the Data Cloud.
Building a data clean room from the ground up can be challenging and require technical expertise and significant investment. By prioritizing ease of use, Samooha dramatically speeds up data clean room set-up and reduces complexity, making the decision to use data clean rooms an easy one. And because Samooha runs directly in the Data Cloud, Samooha leverages the built-in security and governance capabilities of Snowflake, which ensures that customer data is secure and governed.
With this acquisition, Samooha’s co-founders and data privacy experts — CEO Kamakshi Sivaramakrishnan and CTO Abhishek Bhowmick — will both join the Snowflake team along with other Samooha employees.
We’re incredibly excited to be bringing Samooha into the Snowflake fold to make it even easier for customers and partners to build, connect and use data clean rooms to unlock the value of their data in the Data Cloud.
Snowflake’s acquisition of Samooha is subject to customary closing conditions.
Forward-Looking Statements
This release relates to a pending acquisition of Samooha, Inc. (“Samooha”) by Snowflake Inc. (“Snowflake,” “our,” “we,” or “us”). This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding the anticipated benefits of the acquisition, and the anticipated impacts of the acquisition on our business, products, financial results, and other aspects of our and Samooha’s operations. The forward-looking statements contained in this release are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to: the effect of the announcement of the acquisition on the ability of Snowflake or Samooha to retain key personnel or maintain relationships with customers, vendors, developers, community members, and other business partners; risks that the acquisition disrupts current plans and operations; the ability of the parties to consummate the acquisition on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the acquisition; our ability to successfully integrate Samooha’s operations; our and Samooha’s ability to execute on our business strategies relating to the acquisition and realize expected benefits and synergies; and our ability to compete effectively, including in response to actions our competitors may take following announcement of the acquisition. Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption “Risk Factors” and elsewhere in our Form 10-Q for the fiscal quarter ended October 31, 2023 and other filings and reports we make with the Securities and Exchange Commission from time to time. Moreover, both we and Samooha operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the acquisition, or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or our management’s good faith belief as of that time with respect to future events. Except as required by law, we undertake no obligation, and do not intend, to update these forward-looking statements.