Wednesday, September 05, 2007

Cognos Acquires Westborough's Applix for $339 Million - Westborough, MA

Applix, a Westborough-based provider of financial performance management software, has agreed to be acquired by Burlington, Mass.-based Cognos for $339 in million in cash. Cognos, a provider of business intelligence and performance management software, said that the acquisition will add Applix's base of 3000 customers to Cognos' existing customer base of 3500 customers. It also will add over 200 performance management experts to the Cognos team, "with particular strength in the mid-enterprise market," the company said. The deal is expected to close in the fourth quarter of this year.

http://www.applix.com/news_events/db_press_detail.asp?pressrelease=5303

posted by Dissero (www.dissero.com) at 1:02 PM

1 Comments:

Blogger fbartol said...

Here's something to note, the companies are surprisingly well connected as far as executive and board ties(see article from NewsVisual for details: http://www.newsvisual.com/newsvisual/2007/09/cognos-and-appl.html). Applix's Chief Operating Officer, used to be VP of Enterprise Planning at Cognos, which probably was significant in the deal. The ties should facilitate a nice transition.

6:05 PM  

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