Alphabet's (GOOG/GOOGL) Google and Dell Technologies (DELL)-backed AI data platform SingleStore said Wednesday it entered a buyout agreement led by private equity firm Vector Capital Management.

Financial terms were not disclosed, and the proposed deal is expected to close in Q4, subject to closing conditions, the company said.

SingleStore Chief Executive Raj Verma and the management will continue to operate the business, the company added.

Google and Dell will remain as investors in SingleStore, while Vector Capital partners, including Adams Street Partners, JPMorgan (JPM) Asset Management, and Lexington Partners, will invest in the company.

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