A German-based Greek start-up company founded by Greek entrepreneur Kostas Tzoumas was bought by the gigantic Chinese company Alibaba earlier this month for approximately €90 million.
The start-up, named ”Data Artisans”, founded in 2014 by the Greek graduate of Athens’ Metsovio Polytechnic University, is the first German-based start-up firm to be bought in its entirety by a Chinese company.
According to an interview Tzoumas gave to Reuters, Alibaba plans to invest an undisclosed sum in his company to develop “Apache Flink”, its open-source software which is able to process large volumes of data. It also plans to expand into new business areas.
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