Magnitude Software Inc has acquired Irving, Texas-based Innowera, a software provider. No financial terms were disclosed. Magnitude Software is backed by Audax Private Equity.
AUSTIN, Texas – December 20, 2017 – Magnitude Software, Inc., a leader in delivering business insights for organizations with increasingly fragmented application and data environments, today announced its second acquisition this quarter: Innowera, a global software provider that enables users to more efficiently manage SAP processes and workflows for productivity and data management. This acquisition immediately expands Magnitude’s portfolio of solutions in the SAP marketplace, provides access to additional target users in the Office of Finance, and complements key solutions including Magnitude SourceConnect for SAP, Magnitude RapidDecision and Magnitude Connectivity solutions.
“Our mission is to enable our customers to derive data-driven insights that yield real business results while reducing time to market and maximizing productivity. Nowhere is this more impactful than within ERP systems, and specifically, SAP,” said Chris Ney, Chairman and CEO of Magnitude Software. “Together, Innowera and Magnitude deliver solutions that unify the enterprise across increasingly fragmented application environments, including simplifying critical data access, management and visibility for SAP users that traditionally required complex programming with limited results.”
“Joining an experienced, customer-focused company like Magnitude will enable us to scale our go-to-market initiatives, expedite our product roadmap and more effectively serve our loyal, global customer base,” said Mickey Shah, Founder and Chief Solutions Architect of Innowera. “The strength of Magnitude’s development team will also benefit our solutions as we leverage technical synergies across the portfolio to further enhance the SAP user experience.”
One of the largest global ERP providers, and the leader in enterprise information management based on revenue according to Gartner, SAP represents a significant market opportunity for the combined solutions of Magnitude and Innowera. The collective portfolio will facilitate faster, more accurate reporting and analytics across customers’ disparate application environments.
Magnitude has in-market solutions to maximize the productivity of SAP users, including Magnitude SourceConnect for SAP, which was co-innovated with SAP. Magnitude SourceConnect enables fast, low-cost, low-risk implementations of Central Finance by streamlining the data ingest process from non-SAP and SAP sources. Innowera expands Magnitude’s SAP capabilities by enabling users to interact with SAP faster and more easily using mediums such as email and mobile, a competitive differentiator. Targeted at non-technical business users, Innowera automates SAP transactions for those users, providing accurate and seamless connectivity between SAP and Excel with built-in compatibility to thousands of SAP workflows. Additionally, Innowera provides governance for managing SAP business processes across a wide range of adjacent applications including Excel, SharePoint, and Salesforce, among others.
Innowera is a leading global software provider that empowers SAP users with agile data management and productivity tools. Innowera is based in Irving, Texas, USA and maintains presence through reseller and distribution channels in Europe, Africa, Asia-Pacific, and Latin America. Innowera is an SAP Certified Netweaver Gateway Integration Solutions Partner. Innowera prides itself as an inventor and visionary in the SAP Data Management space. Our customers consider us as their partners – not just another software vendor. Innowera makes SAP easier for users on all levels of business by simplifying complex problems and driving efficiencies with automation. Innowera’s Process Runner dramatically reduces the total cost of ownership (TCO) of SAP systems by enabling business and IT users. For more information, please visit www.innowera.com
About Magnitude Software
Magnitude Software leads the way in delivering corporate insights for digital transformation with solutions that tackle the growing problem of data fragmentation in organizations of all sizes. Magnitude’s portfolio of products includes: pervasive connectivity, master data management (MDM), product information management (PIM) for digital commerce, and pre-packaged analytics solutions for corporate performance management (CPM). For hundreds of thousands of users around the globe, the Company’s software and solutions drive real business results while reducing operational cost and risk. For more information, please visit www.magnitude.com