Fivetran has signed an all-stock deal to merge with dbt Labs. This merger combines automated data movement with modern data transformation. They will set a new standard for open data infrastructure. The new company targets nearly $600 million in annual revenue. Fivetran CEO George Fraser will lead it. dbt Labs CEO Tristan Handy will be co-founder and President. Both companies support an open, automated, and user-friendly data setup. The merger aims to unify data movement, transformation, metadata, and activation. It will also maintain customer choice across analytics, compute, and AI platforms. Importantly, dbt Core will stay open source under its current license and will continue to be supported by the community.
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“This is a refounding moment for Fivetran and the broader data ecosystem,” said George Fraser, CEO of Fivetran. “As AI reshapes every industry, organizations need a foundation they can trust – one that is open, interoperable, and built to scale with their ambitions. Our admiration for dbt and its remarkable community runs deep – this is about bringing together the best of both worlds to accelerate innovation and create lasting impact across the data community.” “By merging with Fivetran, we can accelerate that mission and deliver the open data infrastructure that practitioners and enterprises need in the AI era,”said Tristan Handy, founder of dbt Labs. The transaction has been approved by both boards and shareholders and is subject to regulatory review.