Chelmsford, Mass. - Datawatch Corporation, the provider of information optimization solutions, has agreed to acquire Panopticon Software AB, a privately held Swedish company specializing in the delivery of real-time visual data discovery solutions.
Under terms of the definitive agreement - unanimously approved by the Boards of Directors of both companies - Datawatch will acquire all outstanding shares of Panopticon in an all-stock transaction. Based upon the closing price of Datawatch common stock as of June 14, 2013, the deal is valued at approximately $31.4 million. Completion of the transaction is subject to the approval of the Datawatch stockholders, which is expected to occur during its fiscal fourth quarter ending September 30, 2013.
"The acquisition of Panopticon is a transformative event for Datawatch and the industry," said Michael A. Morrison, President and CEO of Datawatch. "This acquisition will immediately benefit our combined customers, partners and prospects by allowing them to accelerate the development and deployment of solutions that use the wide variety of data formats and sources present in every organization. Our collective capabilities to address Big Data opportunities are vastly improved with the high velocity access enabled by Panopticon's real-time visual data discovery solution and the variety of data sources and formats that can be transformed by the Datawatch Information Optimization platform."
"Panopticon pioneered interactive, real-time visual data discovery to speed up business processes, reduce operational and investment risks, detect anomalies and identify opportunities for growth," said Willem De Geer, Managing Director of Panopticon. "We are excited to join forces with Datawatch and bring a truly unique solution for visual analysis of the wide diversity of data formats that exist within enterprises. Our customers and partners will be thrilled to have the opportunity to incorporate semi-structured and unstructured data into their Panopticon solutions."
"Effective visualization of business information is in heavy demand; our research shows that 48 percent of organizations have indicated presenting data visually is an essential business analytics capability, with visual data discovery being one of the top three big data analytics needs not effectively delivered today, and that visualization is more important for businesses than just a focus on velocity or volume," said Mark Smith, CEO and Chief Research Officer, Ventana Research. "Datawatch's acquisition of Panopticon to extend the value of information optimization with analytical discovery, that maximizes the use of data and events, is what business has been demanding and the combination will bring new innovation to our industry."
Morrison concluded, "Our growth strategy at Datawatch is based in large part upon a growing solution portfolio and a robust partner ecosystem. With the addition of Panopticon's unparalleled visualization technology, we accelerate our time to market in both key areas. Panopticon has developed more than 30 customer-ready solution assets and forged dozens of partner and alliance relationships. The synergies between our businesses are compelling and should become even more exciting as the Big Data and real-time markets continue to expand."