MariaDB Finalizes Spinoff Of SkySQL; Newly Formed Company SkySQL Inc. Acquires Rights To SkySQL Database-As-A-Service Product
Portfolio Pulse from Benzinga Newsdesk
MariaDB plc (NYSE:MRDB) has completed the spinoff of its SkySQL business into a new independent entity, SkySQL Inc. The new company has acquired the rights to the SkySQL database-as-a-service (DBaaS) product and will take over its development, sales, and support. This move allows MariaDB to concentrate on its core MariaDB Enterprise Server product.
December 14, 2023 | 1:06 pm
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MariaDB plc has spun off its SkySQL business to SkySQL Inc., which will now manage the SkySQL DBaaS product, allowing MariaDB to focus on its MariaDB Enterprise Server.
The spinoff of SkySQL to SkySQL Inc. is a strategic move for MariaDB plc, which could streamline operations and focus resources on the core product, MariaDB Enterprise Server. However, the short-term impact on the stock price is uncertain as the market digests the news and evaluates the potential benefits or drawbacks of the spinoff.
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