Online analytical processing software provider Information Advantage (IA), Eden Prairie, MN, and IQ Software, Norcross, GA, a provider of enterprise reporting software, recently announced a merger agreement in which Information Advantage would acquire IQ Software.
IA will issue 1.96 shares of its common stock for each share of IQ Software's common stock. The transaction is expected to be completed by October.
According to IA, the merger will expand its direct sales and distributor and partner channels, and improve its product offering by providing end-to-end Internet-based business intelligence applications. Both IA's and IQ's sales models will be combined, so the company will have a direct sales force that covers both North America and Europe, including 24 international distributors.
