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Extensity Formed to Provide Financial Performance Management Solutions to Finance Professionals

  • March 31 2006, 1:00am EST

Extensity announced it has been formed to provide Financial Performance Management solutions designed exclusively for finance professionals, from analysts to CFOs. Extensity is a Golden Gate Capital funded company, whose key solutions are comprised of core financial and performance management applications recently acquired from Geac, with an installed base of more than 12,500 customers worldwide, including more than half of the FORTUNE 100 and 18 of the top 20 U.S. banking institutions.

Extensity consists of two newly formed business units: Financial Applications and Industry Specific Applications (ISAs). The Financial Applications business unit is comprised of two operating groups: Enterprise Solutions, which includes the Enterprise Server, SmartStream and Anael products; and Performance Management, which includes MPC and Expense Management. The ISA business unit includes the commercial systems division, libraries, local government, public safety and restaurants products.

"As a long-time Geac customer, we are pleased to see the company evolving into a trusted partner focused on meeting NBC Universal's financial performance management needs," said Chris Monning, CFO at NBC Universal. "We look forward to working with the new team at Extensity to help guide their development and create increasing value for our organization."

"There is an increased need for applications that improve organizations' financial processes, visibility and transparency," said Robert Kugel, Vice President - Research Director at Ventana Research, an industry research and consulting firm. "Not just for regulatory compliance, but to increase productivity and strategic effectiveness. Extensity has an opportunity to build on Geac's traditional strength in financial applications and create a significant new player in the marketplace."

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