LeapYear (acquired by Snowflake) Risk Report

🏗️ Operational & Business Continuity

LeapYear Technologies, which specializes in cryptography, data science, and machine learning, faced an operational disruption impacting satellite constellations. This event underscores the importance of robust date handling in software to avoid major service interruptions in technology-centric operations.

• A significant software glitch related to the leap year led to a two-day outage of the OneWeb satellite constellation, as reported by SpaceNews on 🗓 January 2, 2025.
• On 🗓 January 6, 2025, The Register reported that Eutelsat's OneWeb attributed a 48-hour service disruption to the mishandling of the leap year's 366th day.

📜 Innovation & R&D

Snowflake's acquisition of LeapYear Technologies highlights a strategic move to enhance data cleanroom capabilities. By integrating LeapYear's cryptography and data security expertise, Snowflake is positioning itself to leverage innovative technologies in data privacy and analytics.

• On 🗓 February 7, 2023, InfoWorld announced the acquisition of LeapYear by Snowflake to boost its data cleanroom capabilities, marking a significant innovation milestone for both companies. Snowflake aims to incorporate LeapYear's advanced cryptography technologies.

⚖️ Legal & Regulatory

LeapYear's acquisition by Snowflake likely involves regulatory compliance and potential legal considerations to ensure a smooth transition and integration into Snowflake's operations, often seen in significant mergers and acquisitions within the tech industry.

• On 🗓 February 7, 2023, Fenwick & West LLP represented LeapYear in its acquisition by Snowflake, a legal step essential for corporate compliance and successful consolidation.