Snowflake (SNOW.US) is planning to acquire AI startup company Crunch Data.

According to The Smart Finance and Economics APP, Snowflake (SNOW.US) announced on Monday that it plans to acquire artificial intelligence startup company Crunch Data. The terms of the deal have not been disclosed. Snowflake stated that the transaction requires approval from regulatory authorities and customary closing conditions. Data shows that Snowflake's stock rose more than 2% on Monday.