Expansion by acquisition remains the preferred growth strategy for business intelligence vendor Cognos, which last week announced the $10 million (#6 million) takeover of Lex2000, a privately owned US data warehousing and reporting software company.
The agreement follows on the heels of several similar purchases last year, most recently that of UK developer Relational Matters late last year.
Cognos is looking to build a comprehensive business intelligence portfolio, through the acquisition of complementary technologies, said Peter Weston, Cognos' UK marketing manager.
"We're not in the market of buying huge customer bases: we buy specific pieces of technology to build into enterprise solutions," Weston said.
Lex2000 develops budgeting, consolidation and reporting software for customers including General Electric, Lockheed Martin and MCI.
Its tools are typically used to perform complex calculations, such as currency conversions and allocations across multiple organisation hierarchies.
The company was founded in 1995, following a buy-out of software assets from General Electric, and employs a staff of 25.
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