Financial, technology and healthcare holding company FutureTech Holding Company has acquired Atlanta-based data catalog company OvalEdge for an undisclosed amount.
OvalEdge was established in 2013 and is based in Peachtree Corners. The target has a presence at Tech Alpharetta and OvalEdge’s technology virtually centralizes all of its data into a “single catalog, enabling users to quickly find data files, tables, social media content and other company data, according to a news release.”
“We are excited to join [FutureTech]. The investment will let us build additional feature sets and expand our delivery capabilities in the US and abroad,” said OvalEdge’s chief executive officer Sharad Varshney.
Varshney will retain his positions as OvalEdge’s CEO, the company said in a statement.
FutureTech was founded in 2005 and is also headquartered in Peachtree Corners. The buyer acquired OvalEdge through its Accscient division in concert with Alaris USA.
“We are very impressed with OvalEdge’s delivery potential in the enterprise sectorand ability to find new customers organically. OvalEdge is the new addition to [FutureTech’s] family as a data company. With OvalEdge, we would be able to serve our customers in the big data sector. We are very excited to bring the OvalEdge team into our family,” said FutureTech’s chairman and chief executive officer Sravan Vellanki.
Using its technologies, companies using OvalEdge are able to launch a data catalog within a month, according to a statement.
According to the target, its technology “virtually centralizes all of a company's data into a single repository, or catalog, enabling data users to quickly find data files, tables, social media content, and all other company data, no matter where it is stored.”
OvalEdge’s Smart Catalog is said to be created for both novice and sophisticated data users.