Cognos Inc, the Ottawa, Canada-based business intelligence software provider has struck a deal to acquire LEX2000 Inc, a developer of financial data mart and reporting software, for $10m in cash and stock. Cognos says the acquisition of LEX2000’s software will allow it to provide customers with both operational and financial data marts on an enterprise scale. LEX2000’s tools are primarily used for complex calculations such as currency conversions and multilevel eliminations. The company was formed in 1995 through the purchase of software assets from the General Electric Co. It is based in Marietta, Georgia and boasts a customer list that includes General Electric, Lockheed Martin and MCI Corp. Cognos says it will account for the deal as a purchase which, after closing, is expected to result in an after-tax charge of roughly $1.5m, or $0.03 per share. The deal has already been accepted by principal shareholders of LEX2000 who hold in excess of 75% of its outstanding shares.
