Noetix Corporation Has Been Acquired by Silverback Enterprise Group
AUSTIN, Texas 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.