Magnitude Software, an Austin, Texas-based provider of enterprise information management software, secured up to $100m in financing.
The investment was led by Audax Group with participation from Chris Ney, the chairman and chief executive officer of Magnitude.
The company intends to use the funds for product innovation, organic growth and strategic acquisitions.
Formed in a merger between business intelligence provider Noetix and data management provider Kalido, Magnitude Software provides Enterprise Information Management (EIM) software to more than 600 global enterprise customers with over 200,000 users.
The company’s offerings include solutions for business intelligence, data warehousing, reporting, analytics and master data management.
Following the transaction, Nigel Turner remains as president, Doug Moore as executive vice president and chief financial officer and Darren Peirce as vice president and chief technology officer.
FinSMEs
24/09/2014