Private equity firm Haveli Investments has agreed to acquire AI-centric database platform Couchbase in a $1.5bn all-cash transaction, as it continues to build exposure to high-growth technology assets, according to a report by Reuters.
Under the terms of the agreement, Haveli will pay $24.50 per share, representing a 29% premium to Couchbase’s last closing price. Shares in Couchbase surged 29% in early trading following the announcement.
The deal underscores private equity’s intensifying interest in AI infrastructure and data management platforms, with Couchbase’s flexible, scalable cloud database seen as a key enabler of modern AI applications. The company competes with other next-generation data platforms such as MongoDB, Snowflake, Databricks, and Cockroach Labs, targeting workloads historically dominated by legacy providers like Oracle.
Founded by former Vista Equity Partners president Brian Sheth, Haveli already holds a 9.6% stake in Couchbase, according to LSEG data. A March SEC filing indicated Haveli was exploring strategic options, including a potential merger, before moving forward with this take-private deal.
The agreement includes a go-shop period, giving Couchbase’s board the opportunity to solicit alternative bids.
