Business intelligence (BI) vendor Business Objects has acquired UK profitability management and activity based costing provider ALG Software for £30m.
The vendor claimed ALG's offering represent a fast-growing segment of the Enterprise Performance Management (EPM) market and complements Business Objects' EPM offering.
Total revenue for ALG Software was approximately $19m for its fiscal year ended 31 January, 2006.
John Schwarz, chief executive of Business Objects, said: "This is terrific news for our customers – by adding ALG Software’s profitability management solutions to our EPM and BI offerings, we will provide our customers with a powerful arsenal for building high impact performance management solutions. The EPM market is in the midst of rapid change, and with this acquisition we will continue to play a leading role in shaping the market. This acquisition is another milestone in our long term corporate strategy around EPM.”
Mike Sheratt, founder and chief executive of ALG Software, said: “The combination of Business Objects and ALG Software makes perfect sense, from both a company perspective and from the perspective of our customers. ALG Software brings to Business Objects a strong solutions portfolio, as well as talented management, development, and sales teams with proven track records. We are excited about the future direction of enterprise performance management at Business Objects, and feel ALG can help play a key role in its success.”
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