Cognos will purchase Applix, an analytics firm, to extend its financial performance management products, the company announced.
Ottawa-based Cognos, a business intelligence and performance management solutions firm, will offer $17.87 per share for Applix, Westborough, Mass., for a total of approximately $339 million. The companies expect the deal to be completed in the fourth quarter. Cognos will use Applix's 64-bit, in-memory server in its flagship products. With more than 200 employees globally, Applix has seen significant growth and revenue of $61.2 million over the past 12 months.
Cognos, which offers clinical and operational performance analysis to the healthcare industry, was trading on Nasdaq this morning at $41.02, down slightly from yesterday's closing price.