SAP to Acquire Dremio, Prior Labs to Boost Enterprise AI

MT Newswires Live05-04 19:43

SAP (SAP) said Monday it has agreed to acquire Dremio and Prior Labs in separate deals aimed at strengthening its enterprise AI and data capabilities, as it looks to unify fragmented data and advance AI built for structured business use cases.

Terms for both transactions were not disclosed, and the deals are subject to regulatory approval.

The Dremio acquisition is expected to close in Q3, while the Prior Labs deal is targeted for Q2 or Q3.

Dremio's data lakehouse platform will enhance SAP's Business Data Cloud by enabling seamless integration of SAP and non-SAP data for real-time analytics and AI workloads, the company said.

Meanwhile, Prior Labs will bolster SAP's push into tabular foundation models, or TFMs-AI systems designed specifically for structured data such as financial and operational datasets, as per the company.

SAP also said it plans to invest over 1 billion euros over four years to scale Prior Labs into a global AI research hub.

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