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Datawatch To Buy Swedish Panopticon Software In All-stock Deal - Update

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Datawatch Corp. (DWCH), a provider of information optimization solutions, Monday announced a definitive agreement to acquire Panopticon Software AB, a privately held Swedish company specializing in the delivery of real-time visual data discovery solutions.

Under the agreement, unanimously approved by the Boards of Directors of both companies, Datawatch will acquire all outstanding shares of Panopticon in an all-stock transaction. Based upon the closing price of Datawatch common stock as of June 14, the deal is valued at about $31.4 million.

Completion of the transaction is subject to the approval of the Datawatch stockholders, which is expected to occur during its fiscal fourth quarter ending September 30.

According to Datawatch, the integration of Panopticon's advanced visual data discovery software will make it the first company to deliver real-time analytics and discovery by accessing the industry's broadest variety of data types at the same time.

This includes traditional structured relational databases, semi-structured sources like reports, PDF files, EDI streams, print spools and documents stored in files systems or enterprise content management systems.

Datawatch noted that Panopticon is a particularly good fit for Big Data environments where visual data discovery capabilities allow people to use their intuition to find meaningful information in all the data available to them.

Canaccord Genuity acted as Datawatch's exclusive financial advisor on the deal.

DWCH closed at $14.60 on Friday.

For comments and feedback contact: editorial@rttnews.com

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