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D.A. Davidson & Co. has announced its role as the exclusive financial advisor to Night Shift Development, Inc. in its sale to Snowflake Inc. (NYSE:SNOW). Night Shift, a U.S.-based data infrastructure and analytics company, was founded by CEO Tim Tutt and COO Drew Hayes, both experts in serving the U.S. national security community. The company’s ClearQuery platform enables rapid data analysis using natural language queries, catering to users of all skill levels.
This acquisition allows Snowflake to establish a dedicated entity focused on the U.S. public sector, expanding its capabilities in working with public sector organizations. The transaction highlights D.A. Davidson’s Technology Investment Banking practice’s success, having completed over 115 transactions worth approximately $21 billion since 2020.
D.A. Davidson & Co. ha annunciato il suo ruolo di consulente finanziario esclusivo per Night Shift Development, Inc. nella sua vendita a Snowflake Inc. (NYSE:SNOW). Night Shift, un’azienda statunitense specializzata in infrastrutture e analisi dei dati, è stata fondata dal CEO Tim Tutt e dal COO Drew Hayes, entrambi esperti nel servire la comunità della sicurezza nazionale statunitense. La piattaforma ClearQuery dell’azienda consente un’analisi rapida dei dati utilizzando query in linguaggio naturale, rivolta a utenti di diversi livelli di competenza.
Questa acquisizione consente a Snowflake di stabilire un ente dedicato focalizzato sul settore pubblico statunitense, ampliando le sue capacità nel lavorare con le organizzazioni del settore pubblico. La transazione evidenzia il successo della divisione Investment Banking nel settore tecnologico di D.A. Davidson, che ha completato oltre 115 transazioni per un valore di circa 21 miliardi di dollari dal 2020.
D.A. Davidson & Co. ha anunciado su papel como asesor financiero exclusivo para Night Shift Development, Inc. en su venta a Snowflake Inc. (NYSE:SNOW). Night Shift, una empresa estadounidense de infraestructura y análisis de datos, fue fundada por el CEO Tim Tutt y el COO Drew Hayes, ambos expertos en servir a la comunidad de seguridad nacional de EE. UU. La plataforma ClearQuery de la empresa permite un análisis rápido de datos utilizando consultas en lenguaje natural, atendiendo a usuarios de todos los niveles de habilidad.
Esta adquisición permite a Snowflake establecer una entidad dedicada centrada en el sector público de EE. UU., expandiendo sus capacidades para trabajar con organizaciones del sector público. La transacción destaca el éxito de la práctica de Banca de Inversión Tecnológica de D.A. Davidson, que ha completado más de 115 transacciones por un valor aproximado de 21 mil millones de dólares desde 2020.
D.A. Davidson & Co.는 Night Shift Development, Inc.의 독점 재무 자문사로서의 역할을 발표했으며, 이는 Snowflake Inc.(NYSE:SNOW)에 대한 판매입니다. Night Shift는 미국에 본사를 둔 데이터 인프라 및 분석 회사로, CEO Tim Tutt와 COO Drew Hayes가 설립했으며, 두 사람 모두 미국 국가 안보 커뮤니티에 대한 서비스를 제공하는 전문가입니다. 회사의 ClearQuery 플랫폼은 자연어 질의를 사용하여 신속한 데이터 분석을 가능하게 하여 모든 기술 수준의 사용자에게 맞춰져 있습니다.
이번 인수로 Snowflake는 미국 공공 부문에 집중하는 전담 기관을 설립하여 공공 부문 조직과 협력하는 능력을 확장할 수 있게 되었습니다. 이 거래는 D.A. Davidson의 기술 투자 은행 부문의 성공을 강조하며, 2020년 이후로 약 210억 달러 상당의 115건 이상의 거래를 완료했습니다.
D.A. Davidson & Co. a annoncé son rôle en tant que conseiller financier exclusif pour Night Shift Development, Inc. dans sa vente à Snowflake Inc. (NYSE:SNOW). Night Shift, une entreprise américaine spécialisée dans l’infrastructure et l’analyse des données, a été fondée par le PDG Tim Tutt et le COO Drew Hayes, tous deux experts au service de la communauté de la sécurité nationale américaine. La plateforme ClearQuery de l’entreprise permet une analyse rapide des données en utilisant des requêtes en langage naturel, s’adressant à des utilisateurs de tous niveaux de compétence.
Cette acquisition permet à Snowflake d’établir une entité dédiée axée sur le secteur public américain, élargissant ainsi ses capacités à travailler avec des organisations du secteur public. La transaction met en avant le succès de la pratique de la banque d’investissement technologique de D.A. Davidson, qui a complété plus de 115 transactions d’une valeur d’environ 21 milliards de dollars depuis 2020.
D.A. Davidson & Co. hat seine Rolle als exklusiver Finanzberater für Night Shift Development, Inc. bei dessen Verkauf an Snowflake Inc. (NYSE:SNOW) bekannt gegeben. Night Shift, ein in den USA ansässiges Unternehmen für Dateninfrastruktur und -analyse, wurde von CEO Tim Tutt und COO Drew Hayes gegründet, die beide Experten im Dienst der nationalen Sicherheitsgemeinschaft der USA sind. Die ClearQuery-Plattform des Unternehmens ermöglicht eine schnelle Datenanalyse mithilfe von Abfragen in natürlicher Sprache und richtet sich an Benutzer aller Fähigkeitsstufen.
Durch diese Übernahme kann Snowflake eine dedizierte Einheit für den US-Öffentlichen Sektor etablieren und seine Fähigkeiten zur Zusammenarbeit mit Organisationen des öffentlichen Sektors erweitern. Die Transaktion hebt den Erfolg der Technologie-Investmentbanking-Praxis von D.A. Davidson hervor, die seit 2020 über 115 Transaktionen im Wert von rund 21 Milliarden Dollar abgeschlossen hat.
Positive
- Acquisition by Snowflake (NYSE:SNOW) expands Night Shift’s market reach
- Snowflake gains dedicated entity for U.S. public sector operations
- Night Shift’s ClearQuery platform enhances Snowflake’s data analytics capabilities
Insights
The acquisition of Night Shift Development by Snowflake is a strategic move that could significantly enhance Snowflake’s position in the public sector data analytics market. While financial details weren’t disclosed, this deal likely represents a valuable addition to Snowflake’s portfolio, given Night Shift’s strong reputation in the U.S. federal and national security communities.
Key points to consider:
- Night Shift’s ClearQuery platform, which enables natural language querying of complex data sets, could be a valuable asset for Snowflake’s AI and data cloud offerings.
- The acquisition provides Snowflake with a dedicated entity focused on the U.S. public sector, potentially opening up new revenue streams and market opportunities.
- Night Shift’s bootstrapped success and strong reputation in the national security space suggest efficient operations and high-quality technology, which could positively impact Snowflake’s bottom line.
For investors, this acquisition could lead to increased growth potential for Snowflake in the lucrative government sector, potentially driving future revenue and market share gains. However, the impact on short-term financials may be without knowing the acquisition cost or Night Shift’s current revenue contribution.
The acquisition of Night Shift Development marks a significant technological advancement for Snowflake, particularly in the realm of natural language processing (NLP) for data analytics. Night Shift’s ClearQuery platform stands out for its ability to make complex data accessible to users of varying skill levels through natural language queries.
Key technological implications:
- Integration of ClearQuery could dramatically enhance Snowflake’s user interface, making its data cloud more accessible to non-technical users.
- The acquisition could accelerate Snowflake’s AI capabilities, especially in processing and analyzing unstructured data, which is important for public sector applications.
- Night Shift’s expertise in handling sensitive national security data could bolster Snowflake’s data security and compliance features, making it more attractive to government and enterprise clients with strict data protection requirements.
This move positions Snowflake to compete more effectively against other major players in the AI and data analytics space, potentially leading to increased market share in both public and private sectors. The synergy between Snowflake’s existing infrastructure and Night Shift’s specialized analytics tools could result in innovative new products and services in the near future.
TYSONS CORNER, Va.–(BUSINESS WIRE)– D.A. Davidson & Co. is pleased to announce that it served as exclusive financial advisor to Night Shift Development, Inc. (“Night Shift” or the “Company”), a U.S.-based data infrastructure and analytics company, on its sale to Snowflake Inc. (“Snowflake”, NYSE:SNOW), a data cloud and artificial intelligence company.
D.A. Davidson & Co. is pleased to announce that it served as exclusive financial advisor to Night Shift Development, Inc. on its sale to Snowflake. (Graphic: Business Wire)
Night Shift was founded by CEO Tim Tutt, a highly-regarded data leader focused on serving the U.S. national security community, and COO Drew Hayes, a data and systems engineering expert with nearly two decades of experience serving the U.S. national security community.
“The team at D.A. Davidson was instrumental in the ultimate consummation of the acquisition of Night Shift by Snowflake. Jonathan Lejuez and the D.A. Davidson team served not just as advisors, but true team members throughout the entire process. We certainly could not have asked for a better partner during this transaction. The team’s expertise and approach helped ensure the best outcome possible and I am immensely grateful for their guidance and support,” said Tutt.
The Company’s augmented intelligence and analytics platform, ClearQuery, allows users to rapidly search, explore, and analyze their data using natural language queries. Users and analysts at any skill level leverage the Company’s platform to harness vast amounts of data to gather valuable insights that significantly improve quality of life and strengthen national security in far less time.
With structured and unstructured data becoming critical for the public sector, as a bootstrapped company, Night Shift built an unmatched reputation within the U.S. federal and national security communities while expanding significantly in the enterprise ecosystem. As a result of this acquisition, Snowflake will have a dedicated entity focused on the U.S. public sector, allowing Snowflake to work with public sector organizations in new ways.
“It was an absolute pleasure advising Tim, Drew, and the entire Night Shift team on this tremendous, strategic outcome. The team here at D.A. Davidson is excited to see the Company continue to grow and bring much needed innovation and efficiency to the data infrastructure and analytics landscape – now as a part of Snowflake,” said Jonathan Lejuez, Managing Director, D.A. Davidson Technology Investment Banking.
D.A. Davidson served as exclusive financial and strategic advisor to Night Shift.
D.A. Davidson’s Technology Investment Banking practice brings sector knowledge, transactional expertise, and full-service capabilities to our clients. This transaction highlights the ongoing success of the Technology practice, which has completed 115+ transactions representing approximately $21 billion in value since 2020.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.
For more information, visit dadavidson.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240924060475/en/
Deal Team Contacts
Jonathan Lejuez, CFA, Managing Director | Austin, TX | JLejuez@dadco.com
Matthew Eichenblatt, Vice President | Irvine, CA | MEichenblatt@dadco.com
Erik Paustenbaugh, Associate | Salt Lake City, UT | EPaustenbaugh@dadco.com
Media Contact
Emily Roy
Prosek for D.A. Davidson
(646) 818-9232
Source: D.A. Davidson & Co.
FAQ
What is the significance of Snowflake (SNOW) acquiring Night Shift Development?
The acquisition allows Snowflake to establish a dedicated entity focused on the U.S. public sector, enhancing its ability to work with public sector organizations in new ways. It also adds Night Shift’s advanced data analytics capabilities, including the ClearQuery platform, to Snowflake’s offerings.
How does Night Shift Development’s ClearQuery platform benefit Snowflake (SNOW)?
ClearQuery allows users to rapidly search, explore, and analyze data using natural language queries. This capability enhances Snowflake’s data analytics offerings, enabling users of all skill levels to gather valuable insights from vast amounts of data more efficiently.
What role did D.A. Davidson & Co. play in the sale of Night Shift Development to Snowflake (SNOW)?
D.A. Davidson & Co. served as the exclusive financial advisor to Night Shift Development in its sale to Snowflake. They provided financial and strategic guidance throughout the transaction process, leveraging their expertise in technology investment banking.
