RALEIGH – The opening words of a note from insightsoftware are very appropriate: “Another one.” In other words, ANOTHER acquisition.
Coming just a month after naming a new CEO, insightsoftware on Tuesday disclosed its 15th buy of another firm. This time it’s IDL Group, a financial performance management software firm with operations in Germany, Austria and Switzerland.
The deal is the first under new CEO Jim Triandiflou who replaced former LexisNexis executive Mike Lipps in a transition that the company has been underway for “months.”
insightsoftware – formed by TA Associates, a private equity firm through the combination Global and Insight Software in 2018 – has made 14 acquisitions under Lipps in growing its global business and footprint. The firm focuses on enterprise software solutions that it says focuses on “the Office of the CFO.”
“IDL specializes in consolidating multi-source, financial data consequently eliminating manual closing errors and reducing closing cycle times and will expand insightsoftware’s solutions for the Office of the CFO,” the company said. IDL has more than 1,100 customers. It is a 30-year-old venture.
Terms of the deal were not disclosed.
insightsoftware names new CEO, replacing former LexisNexis exec
The deal “will increase insightsoftware’s customer base using SAP and present opportunities to expand relationships with complementary budgeting, reporting, analytics, and other solutions,” insightsoftware added.
“Financial consolidation and financial close is a critical monthly activity for the Office of the CFO, but for most organizations it is an overly manual, error-prone process. IDL’s focus on helping customers proactively close their books with automatic, continuous financial consolidations aligns with our vision,” said Triandiflou in the announcement.
“Additionally, IDL has a strong base of enterprise customers using SAP in a key European economic region. insightsoftware will give those customers access to the industry’s most comprehensive portfolio of solutions for the Office of the CFO.”
insightsoftware, which continues to hire in Raleigh, makes 14th acquisition in 2 years
