Applix to acquire TM1 software; TM1 enhances Applix's products for real time decision support.Westboro, Mass.--(BUSINESS WIRE)--Oct. 17, 1996--Applix, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : APLX) announced today that it has signed a definitive agreement to acquire Sinper Corporation d/b/a TM1 Software, a New Jersey-based developer of real time on-line analytical processing (database) On-Line Analytical Processing - (OLAP) A category of database software which provides an interface such that users can transform or limit raw data according to user-defined or pre-defined functions, and quickly and interactively examine the results in various dimensions (OLAP (OnLine Analytical Processing) Decision support software that allows the user to quickly analyze information that has been summarized into multidimensional views and hierarchies. OLAP tools are used to perform trend analysis on sales and financial information. ) software for decision support. This transaction is subject to the approval of TM1 stockholders. Applix will pay a combination of cash and stock valued at approximately $11 million in the transaction, which will be accounted for as a purchase. The acquisition is expected to be completed during the next several weeks, and will not affect TM1's current business partners. Jit Saxena, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Applix, Inc., said that Applix plans to integrate TM1's multi-dimensional OLAP decision support technology with Applix's products. The acquisition of TM1 will expand Applix's leadership position in real time decision support across the enterprise, Saxena said, and offer more complete solutions and integrated products for the markets in which Applix has already achieved broad acceptance -- 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. , Government, Manufacturing and Telecommunications. "Many of our current customers are already using Applixware and Applix Anyware for real time risk management in Financial Services, and for improved real time decision support in the Telecommunications and Manufacturing industries manufacturing industries npl → industrias fpl manufactureras manufacturing industries npl → industries fpl de transformation ," observed Saxena. "These applications require complex modeling and computation which cannot be fully satisfied with traditional two-dimensional spreadsheet technology. Users of our customer interaction product line, Applix Enterprise, will also benefit from the increased power and flexibility of multi-dimensional analysis. TM1's unique architecture for real time, on-demand multi-dimensional calculation and analysis is a good match for Applix's proven real time technologies in its target markets." TM1 Software, based in Warren, NJ, develops, markets and supports real time client/server multi-dimensional OLAP products for decision support which are used to enhance insight and provide competitive advantage during planning, analysis and decision making. TM1 has served the global marketplace since 1984 through a network of consultants, value-added resellers and strategic partners, including Hyperion Software, IQ Software and Platinum Software. It is privately held and ranked among the leading OLAP vendors with major customers world-wide, including industry leaders such as Reuters, Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba , Visa, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Mercedes Benz Mercedes Benz expensive automobile and status symbol. [Trademarks: Crowley Trade, 368] See : Luxury , AT&T and Deutsche Telekom. The company's product line is available on Windows, NT and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). platforms. Manny Manny may refer to: In nobility:
Cowen & Company acted as the exclusive financial advisor to Applix for this transaction. Applix, Inc., based in Westboro, MA, develops, markets and supports Applixware, Applix Enterprise and Applix Anyware. Applixware is an integrated family of software applications and tools for the real-time enterprise, which provides the ability to access, analyze and communicate dynamically changing (real-time) information such as stock market data or information from databases. Applix Enterprise offers customers the ability to research, track and escalate activities for customer interaction applications, including help desk and customer service. Applix Anyware is a family of products for Internet and Intranet applications which provide users the ability to connect, from any location worldwide, to server based information resources via Java enabled web browsers like Netscape. -0- All trademarks, registered trademarks and service marks are property of their respective companies. CONTACT: Applix, Inc. Patrick J. Scannell Jr., 508/870-0300 ext. 396 or Tony Giannelli, 508/870-0300 ext. 202 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion