Middle-market investment firm HGGC has acquired a stake in Denodo Technologies Inc., a developer of data virtualization software. The deal comes as many observers expect technology to be the sector that will power M&A activity throughout 2017 and going forward.
Denodo provides data integration services from the company’s headquarters in Palo Alto, California. That target’s data virtualization software is used for logical data warehouses and data lakes, single-view applications, cloud modernization, governance and compliance initiatives. According to HGGC, data virtualization is gaining a bigger market share of the $4.5 billion data integration industry as more businesses realize it delivers greater efficiencies, while also complementing other data management investments.