Austin's Magnitude Software grows through acquisition

After launching a plan to buy smaller companies, Austin-based Magnitude Software has acquired Datalytics Technologies, a developer of data warehouse software.

Financial details of the deal were not disclosed.

Magnitude was founded in 2014 through the merger of two software firms, Noetix Corp., based in Redmond, Wash., and Kalido, based in Burlington, Mass.

Before the merger, Noetix was owned by Austin-based Silverback Enterprise Group.

Magnitude, which is headquartered in the Frost Bank Tower downtown, develops business intelligence, data warehousing and other business software. The company has 600 customers with more than 200,000 users in 100 countries.

Founded in 1984, Dayalytics Technologies is based in Cheshire, CT., and develops data warehouse software, which specifically works with SAP and Oracle ERP systems.

"This acquisition furthers our strategic objective to enable the CFO (chief financial officer) and other executives to gain transparent access to enterprise information by consolidating disparate ERP data," Lou Guercia, president of Magnitude Software.

ExploreMagnitude raised $100 million in 2014 to buy software companies that have standout products but are struggling to compete with larger companies.

The lead investor in the deal was Audax Group, a private equity firm based in Boston.

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