K1 Investment Management announced it has completed its acquisition of MariaDB, the popular database that runs on servers, computers, and mobile devices around the world.

MariaDB is a fork of MySQL, and came into being after Oracle acquired MySQL. MariaDB, the company, provides commercial services and support to organizations using the database. The US Department of Defense, RedHat, Samsung, ServiceNow, and Deutsche Bank are just a few of the major organizations that rely on MariaDB.

“To run our strategic risk platform at Deutsche Bank, we needed a database that was reliable and performant while handling a massive amount of data. That’s why we turned to MariaDB,” said Liang Ma, Director Core Strats at Deutsche Bank. “With MariaDB Enterprise Server, we have a database that delivers the stability we need at a fraction of the cost of proprietary alternatives.”

MariaDB went public in late-2022, but has struggled to deliver. As part of the deal, K1 has appointed a new CEO, Rohit de Souza, to oversee the company’s turnaround and expansion.

“We are thrilled to welcome MariaDB to the K1 portfolio and to have Rohit leading the company into its next phase of growth,” said Sujit Banerjee, Managing Director of K1 Operations, LLC. “Together, we aim to accelerate product innovation and continue MariaDB’s mission of delivering high-quality, enterprise-grade solutions to meet the growing demands of the market.”

“With K1’s support, we are poised to expand our capabilities and continue delivering the innovative database solutions our customers rely on,” said Rohit de Souza, CEO at MariaDB. “This partnership allows us to further product innovation, advancing our ability to support new workloads driven by AI and the cloud. We remain focused on making it easier for customers to transition from costly alternatives and meet the rapidly growing demands for AI and cloud-based solutions.”

MariaDB is K1’s third take-private deal.