With A View To Expand In Mid, Back Office, Applix Will Acquire TM1
REAL-TIME APPLICATIONS
In an effort to woo middle- and back-office user groups looking to deploy real-time risk management systems, Applix has agreed to acquire TM1 Software (the street name of Sinper Corp.)--a developer of online analytical processing (OLAP) database software and spreadsheet add-ins--for $11 million in cash and stock.
Applix has to date built its business selling its real-time spreadsheet software and related products to front-office trading room users. The deal was announced following a strong third
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