Insightsoftware, a marketer of financial reporting applications used by CFOs, has acquired embedded analytics software developer Logi Analytics, the two companies said Wednesday.
Insightsoftware said the acquisition positions it as “a leader in integrating financial and operational reporting” and “expands the company’s market opportunity through embedded analytics for commercial software organizations and corporate application teams.”
Terms of the acquisition were not disclosed. Logi Analytics was acquired by private investment firm Marlin Equity Partners in October 2017 and there were reports in late 2020 that Logi Analytics was for sale.
Insightsoftware indicated that it will pair Logi Analytics software with its own financial reporting offerings, as well as continue to sell Logi Analytics to other commercial application developers and corporations for embedding business intelligence into their own applications.
“This is a critical piece of our long-term strategy. With Logi Analytics’s robust operational reporting solution paired with our market-leading financial reporting, we can provide our customers the ability to report on every area of their business,” said Jim Triandiflou, Insightsoftware CEO, in a statement.
“In addition, Logi Analytics’s leading position in embedded analytics opens a whole new market opportunity for us and we’re excited to invest and expand Logi Analytics’s leadership position in embedded analytics,” Triandiflou said.
Insightsoftware, founded in 1993 and based in the US, develops financial and operational reporting and performance management software used by chief financial officers and employees within their offices. The company’s product portfolio, used by more than 25,000 organizations, includes reporting, analytics, budgeting, forecasting, consolidation and tax solution software.
The company works with implementation partners and ISVs, according to the vendor’s web site.
Logi Analytics, founded in 2000 and based in the US, originally marketed a line of data analytics and business reporting software, including OLAP (online analytical processing) tools and an embedded database. In 2019 the company acquired Zoomdata and its data analysis platform.
Logi Analytics was most successful in selling its data analytics technology to businesses, commercial software developers and ISVs who embedded it within their own operational applications to provide users with business analysis reports, dashboards and KPIs. That approach is touted as an alternative to using separate standalone business intelligent tools.
Last year Logi Analytics said it was doubling down on that embedded analytics business and launched the Logi Composer software development platform specifically for building analytical capabilities within operational applications.
Logi Analytics partners included software development firms such as Software Solutions and New Venture Software, and data analytics consulting partners like Perception Data Consulting and Trabon Solutions.
“We are honored to join forces with an industry leader in our pursuit to help customers derive insights from transactional and operational data to drive faster, more informed decisions,” said Kevin Greene, CEO at Logi Analytics, in a statement. “As the analytics layer of our customers’ applications, we have a profound impact on decision making across the enterprise and joining Insightsoftware will accelerate our global reach and supply added resources.”