Edgewater Buys BI Vendor

Edgewater said Tuesday that it will pay $5.2 million upfront for Ranzal, plus additional cash contingent upon the combined companies meeting performance objectives over the next 18 months. The deal is expected to add approximately $7.2 million in annual revenue to Edgewater's top line.

Ranzal, based in White Plains, N.Y., has expertise in the use of business-intelligence software such as Hyperion Essbase, Analyzer, and Planning; IBM's DB2 OLAP online analytical processing software; and Microsoft Excel and related development tools. Its clients include major corporations in banking, finance, insurance, pharmaceutical, biotechnology, utility, consumer packaged goods, manufacturing, and retail industries.