Information management software developer Datawatch will acquire Panopticon Software, a supplier of data visualization and discovery tools, in a deal valued at $31.4 million.
Chelmsford, Mass.-based Datawatch will incorporate Panopticon's technology into its software to boost its realtime analytics and discovery capabilities, the company said Monday.
"This acquisition will immediately benefit our combined customers, partners and prospects by allowing them to accelerate the development and deployment of solutions that use the wide variety of data formats and sources present in every organization," said Michael Morrison, president and CEO of Datawatch.
Datawatch and Panopticon were both listed on CRN's Big Data 100 this year.
"Our collective capabilities to address big data opportunities are vastly improved with the high velocity access enabled by Panopticon's realtime visual data discovery solution and the variety of data sources and formats that can be transformed by the Datawatch Information Optimization platform," he said in a statement.
Panopticon Software is a privately held company based in Sweden. Both companies' boards have approved the acquisition, but Datawatch's stockholders have to vote on the deal. Datawatch expects to complete the acquisition during its fourth quarter ending Sept. 30.
Datawatch develops what it calls "information optimization" and unified information management software. The applications help businesses combine structured, unstructured and semistructured data, and make it available to analytical applications and other big data systems.
Panopticon's technology will expand Datawatch's data visualization capabilities, making it easier for users to identify meaningful information amongst huge volumes of data. Forty-eight percent of organizations surveyed by market researcher Ventana Research identified data visualization and discovery as an essential business analytics capability that most vendors fail to provide.
PUBLISHED ON JUNE 17, 2013