In a move to extend what it regards as its position as a leading independent provider of financial performance management systems, business intelligence and performance management provider Cognos is to buy analytics software provider Applix in a deal worth nearly $400 million.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Applix has more than 3,000 customers across a variety of industries including insurance, financial services, banking, healthcare, pharmaceutical, telecommunications, manufacturing, consumer goods and retail.
Cognos sees the Applix acquisition as a good fit for the firm offering 64-bit, in-memory analytics capabilities. ' href='http://computerweekly.com" href="http://computerweekly.com ">' #
The intention is to give customers new and enhanced capabilities to analyse and optimise financial performance. This will include improved analysis and optimisation of large, complex financial performance data; strong finance self-service capabilities such as business rules management; new solution areas including profitability analysis. In addition there is the Applix TM1 64-bit, in-memory multidimensional OLAP server analytics engine.
Recommended CW Stories
· Oracle improves network intelligence Netsure acquisition
· Applix tightens business analytics link to SAP
· Accounting for the needs of SMEs
· Shared services in the public sector
· Betfair to speed debugging