Cognos has agreed to buy Applix, a developer of performance analysis software, and plans to integrate the companies' products by early next year.
With TM1, Applix's 64-bit in-memory analytical engine, Cognos says it hopes to boost its software's ability to analyse and optimise complex financial performance data.
Cognos and Applix expect to complete the US$339 million (NZ$479 million) cash transaction in later this year, subject to regulatory approvals.
It will only take a modest effort to integrate Cognos 8 with TM1, Cognos CEO Rob Ashe says. He expects to have an integrated version on sale in the first quarter of next year.
Applix and Cognos compete with Hyperion, now owned by Oracle, and with Business Objects. They also compete in some areas with SAP, which acquired performance analytics vendor OutlookSoft in May.