Amongst a flood of acquisitions this week, Hummingbird Communications Ltd is splashing out $60m on decision support system software specialist Andyne Computing Ltd. Andyne, based in Hummingbird’s home town of Ontario, Canada, will become a wholly owned subsidiary of the networking software company, trading under the Andyne name. It’s not known if there will be any job losses. Andyne is prevalent in the data warehousing market, an area that Hummingbird regards as a natural progression from its current communications tools, extending them to the arena of data analysis. Today, the primary use of our products is to give Windows clients access to on-line transaction processing applications on Unix, mainframes and minicomputers, said Fred Sorkin, Hummingbird’s chairman and chief executive officer. We’ve seen data warehouses emerge at these same sites at an explosive rate. The acquisition, subject to regulatory approval, should be completed by the end of the year. Simultaneously, Hummingbird reporting year end fiscal results that showed a 62.4% in profits to $28.1m on turnover that rose 35.2% to $101.0m.
This article is from the CBROnline archive: some formatting and images may not be present.
CBR Online legacy content.