Bankrupt bit bin biz Basho Technologies, which developed the Riak distributed NoSQL database, has reached an agreement to sell its remaining assets to Bet365, an online gambling site based in Gibraltar.
For those who have been contributing to Riak's development, this amounts to hitting the jackpot, because the company's products will be open sourced.
In a message posted to the Riak mailing list by a colleague, Martin Davies, CEO of technology for Bet365, announced the agreement and plans to open source Basho's products.
"It is our intention to open source all of Basho's products and all of the source code that they have been working on," said Davies. "We'll do this as quickly as we are able to organize it, and we would appreciate some input from the community on how you would like this done."
As reported last month by The Register, Bet365 previously expressed support for Riak as a technology. That affinity will take a more concrete form as Basho's code gets turned over to the Riak community.
Riak developers responded with messages of gratitude. "Thank you for saving this awesome technology," wrote an individual posting under the name David Bloom. "The open source community is rejoicing."
Basho, formed in 2008, tried to compete in the rather crowded NoSQL database world with enterprise versions of Riak. A 2012 funding round from Georgetown Capital Partners and a new CEO, Greg Collins, failed to do much and by 2014, Collins was out.
In late 2015, cofounder and ousted chairman of the board Earl Galleher sued Georgetown Capital Partners, claiming that the venture firm's funding terms sank the company. That case continues to plod through the Delaware Chancery Court, delayed most recently by a change in legal representation.
In April, Basho was looking to be acquired.
In July, its bills unpaid, Basho was placed into receivership.
Pivotal Solutions, the Renton, Washington-based firm handling Basho's receivership, confirmed that a deal with Bet365 is being finalized.
A spokesperson for Bet365 wasn't immediately available for comment. ®