Sep 25, 2003 (03:09 PM EDT)
Lawson To Buy Closedloop
Read the Original Article at InformationWeek
Enterprise applications vendor Lawson Software Inc. is acquiring Closedloop Solutions Inc., a privately held supplier of financial planning, budgeting, and forecasting software, for an undisclosed sum. The buyout is the latest of several similar deals, including Cognos Inc.'s acquisition of Adaytum Inc. earlier this year and Geac Computer Corp.'s purchase of Comshare Inc. last month.
Lawson says Closedloop's software will strengthen its enterprise performance-management product offerings. Enterprise performance management links strategy and planning with execution and management by helping managers monitor business processes and then using that insight to improve them.
The acquisition is subject to approval by Closedloop Solutions' shareholders. Lawson expects to complete the buyout within 10 days. Lawson, based in St. Paul, Minn., will retain most Closedloop employees at the company's Redwood City, Calif., headquarters.
Closedloop's software will be renamed Lawson Budgeting and Planning and will be integrated with Lawson's existing Enterprise Performance Management Suite. Lawson expects to ship a new version of the Closedloop software sometime during the quarter that begins Dec. 1.