D.A. Davidson & Co. is pleased to announce that it served as exclusive financial advisor to Night Shift Development, Inc. (“Night Shift” or the “Company”), a U.S.-based data infrastructure and analytics company, on its sale to Snowflake Inc. (“Snowflake”, NYSE:SNOW), a data cloud and artificial intelligence company.
Night Shift was founded by CEO Tim Tutt, a highly-regarded data leader focused on serving the U.S. national security community, and COO Drew Hayes, a data and systems engineering expert with nearly two decades of experience serving the U.S. national security community.
“The team at D.A. Davidson was instrumental in the ultimate consummation of the acquisition of Night Shift by Snowflake. Jonathan Lejuez and the D.A. Davidson team served not just as advisors, but true team members throughout the entire process. We certainly could not have asked for a better partner during this transaction. The team’s expertise and approach helped ensure the best outcome possible and I am immensely grateful for their guidance and support,” said Tutt.
The Company’s augmented intelligence and analytics platform, ClearQuery, allows users to rapidly search, explore, and analyze their data using natural language queries. Users and analysts at any skill level leverage the Company’s platform to harness vast amounts of data to gather valuable insights that significantly improve quality of life and strengthen national security in far less time.
With structured and unstructured data becoming critical for the public sector, as a bootstrapped company, Night Shift built an unmatched reputation within the U.S. federal and national security communities while expanding significantly in the enterprise ecosystem. As a result of this acquisition, Snowflake will have a dedicated entity focused on the U.S. public sector, allowing Snowflake to work with public sector organizations in new ways.
“It was an absolute pleasure advising Tim, Drew, and the entire Night Shift team on this tremendous, strategic outcome. The team here at D.A. Davidson is excited to see the Company continue to grow and bring much needed innovation and efficiency to the data infrastructure and analytics landscape – now as a part of Snowflake,” said Jonathan Lejuez, Managing Director, D.A. Davidson Technology Investment Banking.
D.A. Davidson served as exclusive financial and strategic advisor to Night Shift.
D.A. Davidson's Technology Investment Banking practice brings sector knowledge, transactional expertise, and full-service capabilities to our clients. This transaction highlights the ongoing success of the Technology practice, which has completed 115+ transactions representing approximately $21 billion in value since 2020.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.