"Who will buy HashiCorp" was the question that everyone was asking for basically their entire existence.<p>Vagrant, Terraform, Vault, Consul and Nomad were just too good. HashiCorp's biggest competitor against Terraform and Vault Enterprise was their own stuff! If your platform team was even moderately competent, you had no need for any of that stuff, especially at the prices they were asking for!<p>Personally, I was hoping for Microsoft to acquire them.<p>Terraform as a replacement for ARM is _literally_ the dream, and Vault would have been a really good underlying service for Azure Key Vault.<p>Now that I think about it, I'd love a universe in which GitHub is Azure DevOps, TFE-but-better is Azure RM, and Vault is Azure Key Vault. Alas, that is not reality.<p>I want to think that Microsoft made a bid but lost out to IBM.<p>All that said, OpenTofu is a drop-in replacement for Terraform; nearly zero work required. I haven't tried OpenBao yet, but I presume that it's the same situation there. There's enough steam propelling them to make me think that they'll pull through for the long haul.