Cognos announced a definitive agreement to acquire privately held Adaytum, the global leader in enterprise performance planning (EPP.) With this acquisition, Cognos will provide deep domain experience in business intelligence, scorecarding and now enterprise performance planning. The acquisition will give Cognos the largest installed business intelligence and enterprise planning customer base in the industry – more than 22,000 customers worldwide.

The planned acquisition is a cash transaction of U.S. $160 million. It has been approved by the board of directors of both companies and is subject to regulatory approval and customary closing conditions. Cognos expects the acquisition to be completed in January.

The fact that Cognos is able to make an acquisition of this size in the current economic climate is a tell-tale sign of the company's financial strength and its leadership position in the market.

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