Shares of Snowflake Inc.
SNOW,
were rising 2% in morning trading Thursday after The Information reported that the software company was in advanced talks to acquire Neeva, a search startup with an artificial-intelligence focus, citing an unnamed source. Representatives from Snowflake and Neeva didn’t immediately respond to a MarketWatch request for comment on any deal discussions. “Buying the internal search company could help SNOW offer AI software that helps customers search for information in internal documents and data,” Jefferies analyst Brent Thill wrote Thursday. “We believe this acquisition could further enhance and broaden SNOW’s strategy in expanding the end-market from business analysts to data scientists and data engineers, building on what they have been doing with Snowpark.”
