insightsoftware, a Raleigh, N.C.-based provider of enterprise software solutions for the Office of the CFO, is to acquire IDL Group, a German provider of financial performance management software.
The amount of the deal – expected to close before the end of the year, following regulatory approval – was not disclosed.
The acquisition will expand insightsoftware’s financial consolidation and close expertise in market-specific requirements for Germany, Austria, and Switzerland. It will also strengthen insightsoftware’s presence and customer base in Europe. In particular, it will increase insightsoftware’s customer base using SAP and present opportunities to expand relationships with complementary budgeting, reporting, analytics, and other solutions.
Founded in 1990 by Bernward Egenolf, CEO, and backed by LEA Partners, IDL offers a financial performance management suite, including software solutions for financial consolidation, planning, reporting, and analytics. Serving a diverse range of industries, the company has worked with more than 1,100 mid-sized and enterprise customers including Altana, Bayerische Landesbank, and Novomatic.
Led by Jim Triandiflou, CEO, insightsoftware is a provider of financial reporting and enterprise performance management software. The company’s solutions enable performance for the Office of the CFO to connect and analyze their enterprise data in real time, driving greater financial intelligence across their organization. Over 25,000 organizations worldwide use its portfolio of reporting, analytics, budgeting, forecasting, consolidation, and tax solutions to provide them with increased productivity, visibility, accuracy, and compliance.