Palo Alto – October 23, 2018 – Cooley advised MongoDB on its agreement to acquire mLab, a cloud database service. The acquisition is expected to close in November. Cooley partner Steve Tonsfeldt led the team advising MongoDB on the transaction.
According to MongoDB, the acquisition will help deepen its relationships with developer-centric startup communities, a segment with which mLab has been very successful. The combination will also allow it to grow its proprietary automated cloud service, MongoDB Atlas.
“Atlas has seen tremendous momentum in its first two years since launch, growing over 400 percent year over year in the second quarter of this year,” said Dev Ittycheria, president and CEO of MongoDB, in a news release. “The mLab acquisition will give us the ability to scale Atlas even faster. MLab has been providing a compelling service to their customers for seven years and we are delighted to bring this talented team into the MongoDB family.”
Headquartered in New York City, MongoDB is the leading general-purpose database platform, designed to unleash the power of software and data for developers and the applications they build. Cooley previously advised the company on its $192 million IPO in 2017. The company trades on the Nasdaq Global Select Market under the symbol “MDB.”
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