Silverback Enterprise Group Buys Noetix

Silverback Enterprise Group, which is backed by Austin Ventures, said on Thursday that it has acquired Noetix Corp. No financial terms were disclosed. Comerica Bank provided financing for the transaction. Headquartered in Redmond, Wash., Noetix is a provider of software products.

PRESS RELEASE

AUSTIN, Texas–(BUSINESS WIRE)–Silverback Enterprise Group, which acquires and builds industry-leading enterprise software companies, today announced the acquisition of Noetix Corp., a leading provider of business intelligence (BI) and data analytics software.
Noetix offers a suite of industry-leading products that enable instant operational reporting and packaged analytics for enterprise applications, including Oracle E-Business Suite. More than 1,500 enterprise customers worldwide use patented Noetix metadata technology to quickly and cost-effectively access the enterprise application data necessary for critical decision-making. Noetix is widely recognized as a leader in the BI and data analytics software market, and was recently named to KMWorld’s “100 Companies That Matter in Knowledge Management” for the tenth consecutive year.
“We are excited to welcome Noetix to the Silverback family of companies,” said Jack McDonald, Chairman and CEO of Silverback Enterprise Group. “Business intelligence, analytics, and performance management is a $13+ billion growing market1, driven by the ‘Big Data’ explosion of structured and unstructured data. Noetix’s product suite and patented metadata technology provide a powerful platform for addressing this growing market opportunity.”
The existing Noetix management team will continue to lead the business. Silverback will provide increased investment in the development, marketing, support and expansion of the Noetix product families. All existing Service Level Agreements and support arrangements for Noetix customers will remain unchanged.
“Partnering with Silverback will give us access to the resources we need to achieve the rapid growth we envision for Noetix,” said Doug Moore, President of Noetix. “Noetix customers and partners will benefit from this extremely positive next step for our business, which will improve our ability to deliver even more innovative BI products.”
Comerica Bank provided financing for the transaction. Terms of the transaction were not disclosed. Noetix is Silverback’s sixth acquisition in the past two years. Silverback is headquartered in Austin, Texas and backed by Austin Ventures, a venture capital firm with $3.9 billion of capital raised.
About Noetix
Noetix provides instant operational reporting and packaged analytics software for enterprise applications, including Oracle E-Business Suite. For nearly 20 years, Noetix has helped customers worldwide to quickly and cost-effectively access the enterprise application data necessary for critical decision-making. Noetix’s proven technology is being used by more than 1,500 industry-leading customers including: Cummins, Starbucks, Toshiba, Welch’s, and Visa. The company is headquartered in Redmond, Wash., with international operations in London and Hyderabad, India. Join the Noetix community on Facebook, LinkedIn, Twitter, Google+, YouTube, and the Noetix Blog. Noetix is a registered trademark of Noetix Corp.
About Silverback Enterprise Group
Silverback Enterprise Group is a proven team of technology entrepreneurs and business operators who partner with management to buy, build and grow great software businesses. Silverback’s group of companies includes market leaders like Upland Software, the world’s largest provider of cloud-based Project, Portfolio and Work Management software, with over 1,200 active enterprise customers and 300,000 users in 50 plus countries. Silverback’s leadership team has a proven acquisition track record, having completed 25 successful enterprise technology acquisitions in the past 12 years. Headquartered in Austin, Texas and backed by Austin Ventures, a venture capital firm with $3.9 billion of capital raised, Silverback has the financial and operating resources to fund global growth both organically and through acquisitions. Visit www.silverbackEG.com for more information.