Snowflake signed a definitive agreement to acquire Observe, subject to regulatory approval, and plans to integrate Observe’s product into Snowflake. The integration is intended to give customers a unified place to collect and store telemetry data such as logs, metrics, and traces, and to better spot bugs and performance issues. Terms were not disclosed, and reports value the deal at around $1 billion, which would be Snowflake’s largest acquisition to date. Observe said it was most recently valued at $750 million as of July 2025.