INDUSTRY

Cognos, the world leader in business intelligence (BI) and corporate performance management (CPM), today announced the acquisition of Optima Analytical Solutions S.A., based in Madrid, a subsidiary of Sage Finance S.A. Optima will continue its operations in Spain under the name Cognos Espana. The transaction closed on December 31, 2004. "We regard the Spanish market as key to accelerating our presence in southern Europe. Our presence in Spain is another step in delivering on our commitment to provide market-leading CPM solutions and support to customers worldwide," said Ad Voogt, Cognos senior vice president for European Operations. "Optima is an established, well-respected financial performance management solutions provider with a strong track record in the Spanish market. As Cognos Espana, it will enhance Cognos' ability to address the requirements of the Spanish market as well as provide support for our global customers. Our existing partner infrastructure in Spain complements this strategy and will continue to deliver services and address local requirements." "Cognos understands the power of performance management, and has evolved into the clear global leader," said Fernando Rumbero, formerly Optima's general manager, and now country manager for Cognos Espana. "Cognos products are what the Spanish market needs. Cognos has an unmatched product suite, world-class customer support and an outstanding reputation for product reliability. I'm delighted to join the Cognos team and look forward to helping Spanish enterprises address their strategic performance management requirements."