Business Objects to Buy Firstlogic for $69 MillionBusiness intelligence solutions provider Business Objects said yesterday that it will acquire Firstlogic Inc. for $69 million.
The all-cash transaction is subject to regulatory approvals and other customary closing conditions and is expected to be completed in the second quarter.
Pitney Bowes announced plans last fall to acquire Firstlogic, a privately held enterprise data quality solutions and services provider, for $50.3 million but the companies canceled the merger in November. Pitney Bowes still has 10 percent equity ownership of the company.
Firstlogic and Business Objects have been technology partners since April 2004 and support joint customers including Harry & David, National Offender Management Service (UK) and Omnium Worldwide. Firstlogic, La Crosse, WI, had revenue exceeding $50 million last year. It has 6,000 customers worldwide.
"With today's acquisition of Firstlogic, Business Objects acquires one of the most important pieces of the [enterprise information management] puzzle -- data quality," Business Objects CEO John Schwarz said in a statement.
Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters