The database-as-a-service outfit received an "unsolicited non-binding indicative proposal" last week from Runa Capital and its other investment affiliates to acquire 100 per cent of the issued ordinary shares of MariaDB other than those already owned by Runa.

The offer was made under Irish Takeover Rules, meaning it has not necessarily committed itself to making an offer.

MariaDB has not got much legroom to say no after its share price fell dramatically from its IPO price to hovering around the dollar mark.

The company said its Board is reviewing and taking advice regarding the possible offer, but we would have thought that taking the money before Runa changes its mind was likely.

In March, MariaDB told investors it anticipated that the money raised by database subscriptions and services would not be enough to meet its projected working capital and operating needs.The company said it could not secure additional cash from investment "warrants" issued because the share price had dipped below a set $11.50 threshold.

In July, the New York Stock Exchange notified MariaDB that it did not comply with its listing manual after the company's share price dropped below $1 over 30 days. When we looked this morning it was just 47 cents. 

In August, MariaDB reported $13 million in total revenue for the third quarter of fiscal 2023, a 22 per cent revenue hike on the same quarter a year earlier.

Yesterday was not a good day for MariaDB. Software King of the World Microsoft announced that the Azure Database for MariaDB will be retired on 19 September 2025. It advises users to migrate to Azure Database for MySQL Flexible Server by that date.

Vole said Azure Database for MySQL Flexible Server has better features, performance, improved architecture, and more controls to manage costs across all service tiers compared to Azure Database for MariaDB.