Wednesday, Cognos (COGN, CSN.TO) said it agreed to acquire Applix, Inc. (APLX) through a cash tender offer of $17.87 per share, which equates to about $339 million or $306 million net of Applix cash on hand. The consideration of $17.87 per share represents 24% premium to Applix' closing price of $14.37 on September 4.Cognos noted that the acquisition would further extend its position as a leading independent provider of financial performance management. Applix would broaden Cognos' solution offering and provide Cognos with an innovative, 64-bit, in-memory analytics capability. In turn, the deal with Cognos would allow Applix to further augment its position as a leader in the analytics market.Applix would complement Cognos flagship products including Cognos 8 Planning, Cognos 8 Controller, and Cognos 8 Business Intelligence mainly in the area of financial performance management. Applix performance analytics is expected to give customers new and enhanced capabilities to analyze and optimize financial performance.Subject to customary closing conditions, including regulatory approvals, the deal is expected to close in the fourth calendar quarter of 2007.Incorporated in 1983, the Westborough, Massachusetts-based Applix became public in 1994. Applix is a leading provider of business performance management and business intelligence applications catering to the financial analytics market. The company and its global network of partners help more than 3,000 customers worldwide manage their business analytics needs. In 2006, the company generated 41% growth in revenues at $52.17 million and delivered profit of $9.54 million.For the recently concluded first quarter, Applix reported profit of $0.76 million, compared to $0.09 million a year-ago. Revenues for the quarter were $13.9 million, up from $8.99 million in the corresponding quarter last year. Looking forward, the company still expects fiscal 2007 non-GAAP earnings in range of $0.46 - $0.53 per share and GAAP earnings in range of $0.31 - $0.38 per share. The company said it continues to expect revenues between $67.0 and $70.0 million. Wall Street analysts, on average, currently expect the company to report earnings of $0.52 per share on revenues of $69.08 million for 2007.The Ottawa, Canada-based Cognos provides business intelligence and performance management solutions to more than 23,000 customers in more than 135 countries, and its top 100 enterprise customers consistently outperform market indexes. For the recently concluded first quarter, which is seasonally tougher for the company, Cognos recorded 54% growth in profit at US$22.4 million, with revenues rising to US$236.7 million from US$217.0 million a year-ago.Stock QuoteApplix stock closed Tuesday's regular trading at $14.37. On the buyout news, the stock gap opened higher on Wednesday at $17.60 and its shares are currently surging 22.41% or $3.22 to trade at $17.59. In the past one-year, the stock has been trading between $8 and $17.73.Cognos shares gap opened lower on Wednesday at $40.67 compared to Tuesday's closing price of $41.08. The stock is currently down 31 cents and trading at $40.77. In Toronto stock exchange, CSN.TO is trading at C$42.67, down 56 cents or 1.30%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.