Cognos posts record results, acquires data mart software

On the heels of record-setting financial results, business intelligence power player Cognos has acquired the DecisionStream software technology from Relational Matters, in a $10 million cash/stock swap.

The DecisionStream software will better integrate Cognos' line of online analytical processing (OLAP) tools like PowerPlay and Impromptu with data marts. It also presents Cognos to small- and mid-size companies where data marts outnumber bigger, more complex data warehouses.

The deal was announced at the same time as Cognos' most recent quarterly financial results. In Q3 '99 Cognos reports revenue of $76.3 million, up 23% from Q3 '98; net income jumped from $12.5 million to $15.9 million. Sales of business intelligence tools rose 32% to $59.2 million. Despite flat sales in its legacy application development business, the company achieved a 23% growth rate in Q3 '99. During the quarter Cognos signed 80 new resellers; new customers include Panasonic, Prudential, Warner-Lambert, Chase Manhattan, and Merrill Lynch.