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Alibaba buys German start-up

ReutersBERLIN (Reuters) — China’s Alibaba Group Holding has acquired German data analysis firm Data Artisans, the Berlin-based start-up said, in a deal reported to be worth around €90 million ($103 million).

The transaction marks the first full takeover by a Chinese company on Berlin’s growing start-up scene. In the last significant deal, Alibaba’s rival Tencent Holdings participated in a $160 million funding round for online bank N26 in March 2018.

Data Artisans CEO Kostas Tzoumas said Alibaba would also invest an undisclosed sum in the company to develop Apache Flink, its open-source software that can process large data volumes, and to expand into new business areas.

The price of the deal was reported to be €90 million in the media, including German newspaper Handelsblatt. Data Artisans declined to comment on the purchase price.

Alibaba, which competes with e-commerce group Amazon.com , has been a customer of Data Artisans since 2016. The German company, which was founded in 2014, also serves clients including Netflix and Uber.

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