Cognos has concluded a definitive agreement to acquire privately held Adaytum, the global leader in enterprise performance planning (EPP), in a cash transaction worth $160 million.
The acquisition positions Cognos to take the lead in corporate performance management (CPM), providing deep domain experience in business intelligence, scorecarding, and now enterprise performance planning.
"This is a breakthrough acquisition for us. The number one company in BI is also set to become the market leader in enterprise planning," says David McWilliam, MD of Cognos South Africa. "Leadership in these two areas will strengthen the value of the total Cognos offering and accelerate our ability to execute on the promise of CPM - to help enterprise customers understand and advance business performance across their entire company."
With trailing 12-month revenue of around $57 million, Adaytum is the absolute leader in planning and performance management, with more than 1 500 customers worldwide, including industry leaders Toyota, Lockheed Martin, Kellogg`s, Pfizer, 3M and American Express. In the past five years, the company has recorded the best growth rate of any business planning software provider.
Founded in the UK in 1990, Adaytum is incorporated in the US and headquartered in Minneapolis, with offices in the UK, the Netherlands and Australia. It is also represented in more than 35 other countries through a network of strategic alliance partners and value-added resellers.
"Cognos is a world-class organisation, and this acquisition will make for a powerhouse combination. We share Cognos`s vision for CPM of helping customers align business strategy with execution across the enterprise so they can make better decisions and improve performance," says Guy Haddleton, CEO of Adaytum.
"With this acquisition, we can fully leverage the best integrated BI in the world. It will be a perfect match."
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