Datawatch To Acquire Swedish Firm, Name Change Possible
Datawatch Corp. of Chelmsford keeps its edge in the business analytics software industry by offering a scope of services that eclipses those offered by other software firms, and its recent move to acquire a Swedish software company Panopticon Software's will widen its lead on competitors, President and CEO Michael Morrison said in a recent interview.
"I think our best years are ahead of us," Morrison said. "We expect to be a much more meaningful player in the overall market (of data analytics.)"
Visually-Compelling Data, In Real Time
According to its most recent annual report, there is "no single competitor" that addresses the full range of the Datawatch platform, called Monarch Professional, which mines data from structured data bases as well as unstructured documents, like PDF files, and analyzes it for trends that help or hinder business.
Adding Panopticon's services through the planned acquisition, valued at about $31.4 million, will allow Datawatch to display data mining results in a visually compelling way, using Panopticon's data visualization software, according to Morrison. The deal is subject to stockholder approval in the company's fourth quarter, which ends Sept. 30.
Morrison said that using Panopticon software, Datawatch will be able to package data analytics to quickly illustrate variables for customers, like how long an average wait time is at a particular call center, allowing clients to maintain efficient business practices in an instant.
"They're one of the few that does in a real-time mode," Morrison said of the company, soon to be folded into Datawatch.
Panopticon's existing offices in Stockholm, London and Munich will remain open as Datawatch offices following the acquisition, adding to Datawatch's overseas offices in London, Munich, Singapore, Sydney and Manila.
Morrison joined Datawatch in 2011, at a time when the company was experiencing a "gradual decline," he said. But the 25-year-old firm seems to be on the rebound, growing revenue from $17.8 million in fiscal 2011 to $26 million in fiscal 2012, and posting net income of $1 million in fiscal 2012, up from $132,000 in fiscal 2011, and following a loss of nearly $5 million in fiscal 2009.
New Employees, Branding, Name-Change Possible
Following the Panopticon acquisition, the company will likely hire new employees with sales, marketing and technical expertise, but Morrison said the number hasn't been determined.
Perhaps more pivotal for the company, is the possibility of a rebranding following the Panopticon purchase. According to Morrison, a new company name and branding elements may be required to properly display its new range of capabilities.
"It's a good time for us to revisit how we want to brand this complete solution to the market, now that it's all part of the single company," he said.
Image source: Freedigitalphotos.net
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