Cognos Snaps Up Adaytum, Reports 3Q Revenue And Profit Gains - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Cognos Snaps Up Adaytum, Reports 3Q Revenue And Profit Gains

Business-intelligence vendor strengthens its hand in enterprise and business-performance management.

Business-intelligence software vendor Cognos Inc. is acquiring Adaytum Inc., a privately held developer of financial-planning and performance-management software, for $160 million in cash. The companies said Thursday that both boards have approved the deal, and the acquisition is expected to be completed within 30 days.

Details about Cognos' plans for Adaytum and its product line won't be released until the deal is closed, says Dave Laverty, Cognos' global marketing senior VP. Adaytum has approximately 300 employees and had sales of approximately $57 million during the last 12 months. Cognos markets the Cognos Finance budget-planning and -forecasting applications, in addition to its broad line of reporting and analysis software tools.

The acquisition is likely to strengthen Cognos' hand in what it calls corporate-performance management--also known as enterprise- and business-performance management--which combines analysis, planning, and business performance- monitoring capabilities. Corporate-performance management helps executives gain visibility into their companies' business processes and develop better management strategies. Competitors in this market include Business Objects, Comshare, and Hyperion Solutions.

"This acquisition is a bold stroke that accelerates our CPM vision by at least 18 months," Cognos CEO Ron Zambonini says.

Cognos also reported Thursday that revenue in its third quarter ended Nov. 30 was $138.1 million, up 11% compared with the same period a year ago. Net income surged 50% to $19.9 million, or 22 cents per share. Business-intelligence license revenue increased 7% to $60.3 in the quarter, while analytic-application sales increased 68% to $10.4 million. The number of contracts greater than $200,000 signed during the quarter increased 17% year over year to 74.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
Augmented Analytics Drives Next Wave of AI, Machine Learning, BI
Jessica Davis, Senior Editor, Enterprise Apps,  3/19/2020
Slideshows
How Startup Innovation Can Help Enterprises Face COVID-19
Joao-Pierre S. Ruth, Senior Writer,  3/24/2020
Commentary
Enterprise Guide to Robotic Process Automation
Cathleen Gagne, Managing Editor, InformationWeek,  3/23/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT Careers: Tech Drives Constant Change
Advances in information technology and management concepts mean that IT professionals must update their skill sets, even their career goals on an almost yearly basis. In this IT Trend Report, experts share advice on how IT pros can keep up with this every-changing job market. Read it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll