MariaDB is the subject of another potential takeover bid. The company behind the eponymous open source relational database management system (RDBMS) confirmed that it had received a provisional offer from California-based K1 Investment Management.
K1 quietly revealed on Friday that it had tabled an “unsolicited non-binding indicative proposal” for MariaDB. This exploratory, non-binding offer includes buying all MariaDB stock at a price of $0.55 per share, amounting to roughly $37 million based on the company’s February 5 closing valuation. The form of this offer has yet to be finalized.
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K1 has until March 29, 2024, either to formalize its offer or to abandon the plans altogether, as per Irish Takeover Rules which MariaDB is subject to in light of its headquarters location in Dublin, Ireland and another in Redwood City, California.
