1010data, Inc., a NYC-based provider of a big data discovery and data sharing platform that combines cloud-based analytics with access to datasets, has been acquired by Advance Publications, a global and diversified media group, for $500m.
Through this transaction, Advance will provide 1010data with the capital required to accelerate the market adoption of its platform. 1010data management will continue to lead the company, retaining a stake in the new entity. New capital will be used primarily to invest in the platform, scale sales and marketing operations, expand product offerings and grow into new industries and geographies.
Nomi Bergman, President of Advance’s cable television affiliate, Bright House Networks, is a new member of 1010data’s Board.
Led by Sandy Steier, Co-founder and CEO, 1010data provides a Big Data Discovery and data sharing platform that enable organizations to analyze, share, and monetize Big Data. It is used by more than 750 banking, retailing, manufacturing, gaming and telecommunication companies.
The company received a $35m private equity investment from Norwest Venture Partners in 2010.