by Jason Parker
When insightsoftware CEO Jim Triandiflou told WRAL TechWire last week that the company would continue its torrid pace of seeking like-minded firms to acquire in the coming months, bolstered by an $800 million infusion from a single investor, he said the company would likely look globally and seek bigger deals.
No kidding: today, insightsoftware announced that it has acquired the Australian firm CALUMO, in a deal that the company said demonstrates its commitment to provide the CFO offices of mid-market businesses the ability to report on every area of their business.
According to Triandiflou, this is the 18th acquisition in about three years, after the company was formed by merging two existing firms with the backing of TA Associates.
After last week’s $800 million investment from Hg, the company is valued at about $4 billion, said Triandiflou, putting insightsoftware firmly into the group of North Carolina ‘unicorns,’ or companies valued at more than $1 billion.
The deal to acquire CALUMO “accelerates insightsoftware’s strategic focus and leadership in budgeting and planning solutions for mid-market companies while significantly expanding its business in Australia,” the company noted in a statement.
The $800 million deal from Hg will turbocharge insightsoftware’s expansion, growth, and acquisition strategy, said Triandiflou in an interview with WRAL TechWire last week.
Financial terms of the deal were not disclosed.
Original Source: WRAL TechWire