ThoughtSpot, an AI-powered analytics platform last valued at $4.5 billion, today announced that it’s entered into a definitive agreement to acquire Mode Analytics, a business intelligence startup, for $200 million in cash and stock.

Mode will become a wholly-owned subsidiary of ThoughtSpot once the deal closes later this year, subject to customary closing conditions and receipt of the approval of Mode’s shareholders.

It’s ThoughtSpot’s third acquisition following the company’s purchase of SQL-based analytics software firm SeekWell in March 2021 and data integration company Diyotta in May of that same year. Enabling the deals in part is ThoughtSpot’s massive warchest, which totaled over $663 million as of August 2019.

The deal, ThoughtSpot CEO Sudheesh Nair says, will bolster ThoughtSpot’s generative AI capabilities while doubling the company’s customer base and growing its annual recurring revenue to more than $150 million.

“With this acquisition, we’re giving both data teams and business users the tools they need to efficiently and quickly turn data into insights and those insights into actions,” Nair said in a press release issued this morning.

San Francisco-based Mode, w