OpenAI has agreed to acquire product testing startup Statsig for $1.1 billion in an all-stock transaction, marking one of the largest acquisitions in the ChatGPT maker’s history.

The deal however is subject to regulatory approval, according to Bloomberg.

Founded in 2021, Statsig provides tools that help software developers test and evaluate new features.

Its platform has been used by teams at OpenAI, Eventbrite, SoundCloud, and other tech firms.

Earlier this year, Statsig raised $100 million in funding, valuing the company at $1.1 billion.

As part of the acquisition, Statsig founder and CEO Vijaye Raji will join OpenAI as chief technology officer of applications, reporting to Fidji Simo, the former Instacart executive who recently became CEO of OpenAI’s applications division.

Simo said Raji will help companies and developers create “safe applications that empower people” with OpenAI technology.

The acquisition underscores OpenAI’s aggressive push for large-scale deals, supported by its rising valuation. In March, the company closed a $40 billion funding round at a $300 billion valuation.

It was recently reported that OpenAI is considering a secondary market for current and former employees to sell shares at a $500 billion valuation.

The deal also aligns with broader leadership changes within OpenAI.