Answerthink Acquires Hyperion Implementer Beacon Analytics; Expands Implementation Capabilities in Business Performance Analytics.Business Editors/High-Tech Writers MIAMI--(BUSINESS WIRE)--July 29, 2003 Answerthink, Inc. (Nasdaq:ANSR ANSR Autonomous Naval Support Round ANSR Adaptive Network Solutions Research, Inc. ANSR Advanced Neutron Source Reactor ANSR Active No Swashplate Rotor (Army) ) announced today that it has purchased Beacon Analytics Inc., a company specializing in Hyperion software implementations and business performance analytics. The acquisition is expected to add approximately $8.0 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue to Answerthink, and will further strengthen Answerthink's ability to provide planning, reporting, and decision support solutions to its clients. Answerthink is a leading business and technology consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a that enables companies to achieve world-class business performance. Beacon Analytics is a business performance management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects company focusing on the implementation of Hyperion software. Beacon's principal industries include financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , manufacturing, insurance, health care, retail and consumer products. Its primary markets include California, Texas, New York/New Jersey, and Illinois. "This acquisition significantly strengthens our capabilities in both Hyperion Essbase and finance-related Hyperion applications, which in turn enhances our ability to help clients achieve broad transformation in finance and other areas," said Tom Hoblitzell, Managing Director of Answerthink's Business Intelligence Group. "Beacon has a proven track record implementing Hyperion-based decision support and analytics systems with Fortune 500 companies. Their skill set provides an excellent complement to our abilities in decision support, data warehouse development, and finance transformation, and to The Hackett Group best practices in planning and budgeting, performance management, and reporting and analysis that we bring to the table. Taken together, all this puts us in a unique position to help companies improve their decision-making throughout the entire organization." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Beacon Analytics' President Leah Wheelan, "Beacon has been very successful as a boutique consulting firm focused on the Hyperion Business Performance Management arena. Our clients are some of the leading companies in financial services, manufacturing, retail, and health care. Answerthink has a powerful value proposition in its ability to offer clients comprehensive consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" and technology implementations that integrate proven best practices from The Hackett Group. We're excited to become part of their organization, and believe our clients will be very receptive to the broader range of consulting services that Answerthink can offer them." Today's announcement follows on the heels of another recent expansion of Answerthink's business intelligence offerings. Answerthink recently introduced Rapid Insight, a solution framework that quickly and easily adds powerful decision support capabilities and financial analytics to leading business applications. The solution combines the capabilities of leading financial analytics software with integrated proven best practices and business metrics from The Hackett Group to provide companies with clear insight into current performance and market trends, enabling executives to make smarter, faster, and more efficient decisions. About Answerthink Answerthink, Inc. (http://www.answerthink.com) is a leading business and technology consulting firm that enables companies to achieve world-class business performance. By leveraging the comprehensive database of The Hackett Group, the world's leading repository of enterprise best practice metrics and business process knowledge, Answerthink's business and technology solutions help clients significantly improve performance and maximize returns on technology investments. Answerthink's capabilities include benchmarking, business transformation, business applications, technology integration, and offshore application maintenance and support. Founded in 1997, Answerthink has offices in 9 cities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and in Europe. About The Hackett Group The Hackett Group, an Answerthink company, (http://www.thehackettgroup.com) provides fact-based, objective insights that help clients optimize processes, organization, technology and information in key corporate functions such as finance, IT, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , and procurement. Hackett's research-derived guidance is backed by its continuously updated database of benchmark metrics and best practices in use at nearly 2,000 client organizations, including 97 percent of the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Industrials, 81 percent of the Fortune 100, and 88 percent of the Dow Jones Global Titans The Dow Jones Global Titans 50 Index was created to reflect the globalization of international blue chip securities in the wake of mergers and the creation of mega-corporations. Index. In addition to benchmark studies of finance, IT, SG&A (sales, general, and administrative), human resources, and related areas, Hackett offers management research services and subscription-based collaborative learning Collaborative learning is an umbrella term for a variety of approaches in education that involve joint intellectual effort by students or students and teachers. Collaborative learning refers to methodologies and environments in which learners engage in a common task in which each programs in shared services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. and other administrative support processes. Certain statements in this press release are "forward looking statements'' within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward looking statements. Factors that impact such forward looking statements include the ability of the Company to effectively integrate Beacon Analytics into its operations, attract additional business, changes in expectations regarding the information technology industry, the ability of the Company to attract skilled employees, possible changes in collections of accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , risks of competition, price and margin trends, changes in general economic conditions and interest rates as well as other risks detailed in the Company's reports filed with the Securities and Exchange Commission. |
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