DEAL_OVERVIEW
Deal Terms
Date
2026-06-01
Amount
Undisclosed
Est. Multiple
N/A
Key Talent
N/A
Integration Time
N/A
Categories
Data IntegrationData TransformationMerger
Deal Multiples
No detailed multiples available
Strategic Rationale
All-stock merger of the two pillars of the modern data stack — ingestion (Fivetran) and transformation (dbt) — into one ~$600M-ARR, 100,000+ team open data-infrastructure company for "trusted AI agents." George Fraser stays CEO, Tristan Handy is President. The defining MAD-stack consolidation of the cycle.
POST_ACQUISITION_TIMELINE2 EVENTS
2025-10-13deal announced
Fivetran + dbt Labs sign all-stock merger
Definitive agreement to merge ingestion and transformation into a single data-infrastructure company.
2026-06-01deal closed
Merger completes as "Fivetran + dbt Labs"
Combined company approaches $600M ARR serving 100,000+ data teams; George Fraser CEO, Tristan Handy President.
KEY_PEOPLE1 TRANSITIONS
TH
Tristan Handy
dbt Labs Founder & CEO, dbt Labs→Fivetran President, Fivetran + dbt Labs