Fivetran Now Owns Both dbt and SQLMesh After Merger With dbt Labs

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Fivetran acquired Tobiko Data, the company behind SQLMesh and SQLGlot, in September 2025, and completed an all-stock merger with dbt Labs on 1 June 2026. Contrary to fears about open-source restrictions, both projects became more permissively licensed after the deals: SQLMesh was contributed to the Linux Foundation in March 2026, and dbt Core v2.0 shipped with its Rust engine relicensed to Apache 2.0. With a single owner now steering both frameworks, the consolidated roadmap is focused on data infrastructure for AI agents built around a managed platform. Critics note that having one roadmap means certain competing ideas about transformation frameworks no longer have an independent venue to develop. The author, whose tool relies on SQLGlot, acknowledges a direct stake in how Fivetran stewards these projects going forward.

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