Lawson Software announced the acquisition of Closedloop Solutions Inc., a privately held provider of collaborative applications to help businesses with financial budgeting, planning and forecasting. The acquisition significantly strengthens Lawson's enterprise performance management offerings and continues the company's strategy of enriching its enterprise applications with targeted technology and intellectual property purchases.
The acquisition is subject to Closedloop Solutions shareholder approval and is expected to be finalized within ten days. Terms of the deal were not disclosed. Lawson expects to retain most Closedloop employees at its headquarters in Redwood City, California.
Closedloop Solutions has developed a strong reputation for advancing the market vision for continuous planning. The company's applications enable organizations to implement more dynamic and responsive financial management processes and encourage collaboration among both financial and business line managers. Closedloop's offering is also considered easier to implement and use than competing applications.
The venture-funded company currently has several customers who have fully implemented its Closedloop Dynamic Financial Control product. Lawson intends to continue fully supporting these customers.
Lawson plans to rebrand Closedloop's applications as Lawson Budgeting and Planning. The new applications will be enhanced and integrated with Lawson's existing Enterprise Performing Management suite, which span the entire business intelligence continuum, from proactive notification through reporting, analysis, collaboration and business process optimization. The company expects to release the first Lawson version of the new applications during Lawson's fiscal third quarter, which begins December 1.
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