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.
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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.
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