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x2espresso
2021-10-29

Another spac again?

$4 billion Raleigh software company acquires Texas firm that partners with Oracle, SAP

Fast-growing Raleigh financial reporting software firm insightsoftware is zeroing in on yet another

$4 billion Raleigh software company acquires Texas firm that partners with Oracle, SAP

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Triandiflou declined to provide financials on the deal, but said Magnitude’s strength “is with really large companies.” It partners with firms such as SAP (NYSE: SAP) and Oracle (NYSE: ORCL).</p>\n<p>Insight, on the other hand, has as its “bread and butter” mid-market companies.</p>\n<p>“That’s a great combination,” he said.</p>\n<p>The firm had been on insightsoftware’s radar for some time, with deal talks “heating up” over the summer. Triandiflou said he and Magnitude’s Boston-based CEO Jeff Shoreman met up a few times, sitting outside at a restaurant near Boston Harbor to “talk about business and make it happen.” Triandiflou admits deals take on a new dynamic in the pandemic. 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Triandiflou declined to provide financials on the deal, but said Magnitude’s strength “is with really large companies.” It partners with firms such as SAP (NYSE: SAP) and Oracle (NYSE: ORCL).\nInsight, on the other hand, has as its “bread and butter” mid-market companies.\n“That’s a great combination,” he said.\nThe firm had been on insightsoftware’s radar for some time, with deal talks “heating up” over the summer. Triandiflou said he and Magnitude’s Boston-based CEO Jeff Shoreman met up a few times, sitting outside at a restaurant near Boston Harbor to “talk about business and make it happen.” Triandiflou admits deals take on a new dynamic in the pandemic. 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$4 billion Raleigh software company acquires Texas firm that partners with Oracle, SAP

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