- Date
- June 1, 2026
- Kind
- Acquisition
- Significance
- High
On June 1, 2026, Fivetran announced that it had completed its merger with dbt Labs, the creator of dbt. The deal, which was announced on October 13, 2025, was all-stock, and the companies did not disclose financial terms.
The combined company
- George Fraser, Fivetran’s co-founder, continues as chief executive, and Tristan Handy, a co-founder of dbt Labs, becomes president.
- The companies say more than 100,000 data teams use dbt, and name customers including OpenAI, Zendesk, Coupa and HubSpot across the combined business. They did not state an annual recurring revenue figure.
- Their framing is that Fivetran moves the data and dbt defines, tests and governs it, so that AI agents work on complete and trusted data.
Products announced with the close
- dbt Core v2.0 (alpha): open-sources the dbt Fusion engine runtime under the Apache 2.0 licence.
- dbt State (preview): a caching layer that rebuilds only what changed, which the companies say cuts infrastructure costs by 30% or more.
- dbt Wizard (beta): AI assistance for writing, refactoring and debugging models.
- Agents Schema: an open-source standard that designates a warehouse or lake schema as shared context for AI agents.
The performance and saving claims are the companies’ own and were not independently tested.
Why it matters
When one vendor owns more of the data pipeline, switching one piece gets harder. The commitment to keep dbt Core open source is a protection, and a sensible precaution is to keep transformations as plain SQL models that can run elsewhere. For marketing data teams the practical question is how pricing and packaging change once ingestion, transformation and activation come from one company.
What happened next
The merger completed on June 1, 2026. The sources reviewed did not describe combined pricing or packaging.
Sources
- Fivetran: Fivetran and dbt Labs complete merger to create the data infrastructure for trusted AI agents (opens in a new tab)
- Hevo Data: Fivetran and dbt merger explained (opens in a new tab)
A third-party explainer; some of its figures differ from the companies' release and are not used here.