HCLSoftware: For $240 million will purchase the business intelligence platform Jaspersoft from Cloud Software Group
HCLSoftware: The US-based Cloud Software Group’s business unit, Jaspersoft, which offers a top embedded analytics and pixel-perfect reporting platform, will be acquired by HCLSoftware, the software business branch of HCLTech.
The business statement claims that HCLSoftware’s Data and AI division (Actian) has seen strong growth over the last five years, driven by enterprise data management solutions, and is seeing an increase in demand for its metadata management, data catalog, and data governance solutions.
In addition to enabling an end-to-end, immersive data management experience, the acquisition will broaden Actian’s reach through a sizable, international developer community made up of data engineers and architects who are actively creating, implementing, and expanding data platforms throughout the contemporary enterprise environment, according to HCLTech.
Organizations can produce pixel-perfect reports, interactive dashboards, and sophisticated visualizations with the help of Jaspersoft’s complete business intelligence and reporting platform.
Jaspersoft provides financial services, banking, and government services. Approximately 115 people from Jaspersoft worldwide will join HCLSoftware.
Marc Potter, CEO Actian and Portfolio General Manager of HCLSoftware’s Data and AI division, said, “As GenAI adoption accelerates, our customers want business intelligence solutions that can deliver consistent analytics and reports and offer flexibility to fully own the analytics experience.”
“With Jaspersoft, Actian will provide seamless AI-powered embedded analytics with strong architectural flexibility, allowing high-volume pixel-perfect reports and interactive dashboards to be seamlessly integrated into customer-facing applications, driving scalable self-service business intelligence,” Marc Potter stated.
“Jaspersoft has earned the trust of organizations worldwide through its embedded analytics capabilities,” said Steven Schneider, Cloud Software Group’s General Manager of the Analytics business unit. “We believe HCLSoftware is a strong strategic owner for the business and look forward to Jaspersoft continuing to serve customers under HCLSoftware’s ownership.”
According to the HCLTech release, the transaction is anticipated to finalize within six months of signing. The purchase is contingent upon regulatory clearances from many nations, notably the US Committee on Foreign Investment.
The estimated purchase cost is $240 million USD.