Cognos Inc plans to use surplus funds and spend more than $50m to buy up 2.2 million of its own shares. Of course, this will increase the value of the Ottawa, Ontario- based company to existing shareholders. But it is surprising that the board didn’t look instead for an acquisition to increase the scope of its activities. After all, Cognos boasts that its software is one of the best business intelligence tools around and so it should have had no difficulty in working out the best bargains around.