Growing Cognos Moves To Acquire Adaytum - InformationWeek

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Growing Cognos Moves To Acquire Adaytum

Business-intelligence software vendor Cognos Inc. disclosed plans to acquire Adaytum Inc., a privately held developer of financial-planning and performance-management software, for $160 million in cash. Adaytum has about 300 employees and sales of $57 million over the last 12 months. Cognos sells budget-planning and forecasting applications, in addition to its line of reporting and analysis tools.

The acquisition would strengthen Cognos' hand in what it calls corporate performance management, which combines analysis, planning, and business-performance monitoring capabilities. Cognos also reported revenue for the quarter ended Nov. 30 of $138.1 million, up 11% compared with the same period one year ago. Net income surged 50% to $19.9 million.

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