BI software vendor Business Objects announced today that it is buying London-based Armstrong Laing for about $56 million in cash. Armstrong Laing’s Enterprise Performance Optimization Suite has strong collaborative planning and multidimensional modeling capabilities. For the latest fiscal year, Armstrong Laing reported revenue of $19 million. The official announcement can be viewed here.
Business Objects have been growing by acquisition, and this represents their entry into the budgeting and planning space, traditionally a stronghold of Hyperion. At the grand scale of things, this is not an acquisition that will dramatically change the BI space. At the same time, it is interesting to see how the finance niche in BI will play out with this acquisition.