Open Source database firm EnterpriseDB has announced new financial backing

IBM has invested in the open source database firm EnterpriseDB, as the firm looked for financers in its third round of investment.

EnterpriseDB announced that it has raised some $10bn from investors in this latest push, "This latest round of investment in EnterpriseDB is an acknowledgement of our business model, technical innovation, and emergence as a leading force in the PostgreSQL community, including our work in the areas of database compatibility and performance," said Andy Astor, chief executive officer, EnterpriseDB in a statement.

IBM may have invested in the firm as a means of strengthening its position in the web application services market, and to keep up with competitor Sun, which has enjoyed success following its acquisition of the open source firm MySQL about a month ago.

Inna Kuznetsova, director, IBM Linux Strategy, added, "IBM has a long history of supporting open source initiatives, including Linux, Apache, and Eclipse, and this investment is another example of IBM's long-standing commitment to open standards."