Business Objects, the global provider of business intelligence (BI) solutions, announced that it has entered into a definitive agreement to acquire privately held Firstlogic, Inc., a global provider of enterprise data quality solutions and services.
The acquisition will be an all-cash transaction of approximately $69 million. The transaction will be accounted for under the purchase method of accounting. In 2006, the transaction is expected to be accretive to Business Objects on a non-GAAP basis and dilutive on a GAAP basis due to one-time charges and purchase accounting adjustments. The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to be completed in the second quarter of 2006.
Firstlogic is a privately held company with 2005 revenues in excess of $50 million. For over 20 years, Firstlogic has provided technology solutions, services, education, and consulting to help businesses establish confidence in the data driving their businesses. Firstlogic offers enterprise data quality management solutions that support the full breadth of data quality capabilities including initial data assessment and measurement, data cleansing, data enrichment, matching and consolidation, and continuous monitoring.
Over 6,000 customers worldwide have selected Firstlogic as their partner of choice for ensuring the quality of their information within data warehouse and business intelligence systems, customer and master data integration programs, CRM applications, transaction environments such as call centers and Web sites, and other enterprise initiatives. Firstlogic and Business Objects have been technology partners since April 2004 and currently support joint customers including Harry & David Operations Corporation, National Offender Management Service (UK), and Omnium Worldwide.
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