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News QIQ Solutions to be acquired by Hyperion Solutions SYDNEY, Australia, July 21 2004 QIQ Solutions Pty Limited, the leading global developer of dashboard and management tools for business intelligence deployments, announced today an agreement to sell their dashboard development and report lifecycle management product suite to Hyperion Solutions (Nasdaq: HYSL). The latest product released by QIQ Solutions, Map Intelligence, will be retained in the Forge group. The sale will allow Forge to capitalize on the excitement being generated in the market for the Map Intelligence product by focusing on further global market development. The transaction is expected to close July 31st, 2004. QIQ Solutions currently has in excess of 200 customer sites worldwide, including many of the largest Hyperion Intelligence sites, using its Application Development Platform for the development and management of digital dashboards. It has built this enviable position from its Australian home base through a global reseller network which includes Hyperion. Support of these customers will transition to Hyperion on closure when many QIQ staff will join Hyperion. "This acquisition marks a major milestone in Forge's strategy of spinning off niche product opportunities and remaining focused on our core software engineering expertise," said Peter Rossiter, Chairman of Forge Holdings and QIQ Solutions. "The QIQ product suite meets a major industry need and we believe Hyperion is the ideal vehicle to realize the potential for these products". "QIQ Solutions is Forge's first major technology sale and will allow us to concentrate more fully on the emerging market opportunities for our newest selling product – Map Intelligence – which is the merging of Business Intelligence and Geographic Information Systems. We anticipate a significant new base of Map Intelligence ready prospects due to the greater penetration for digital dashboards that will be achieved by Hyperion’s global sales and marketing capability.” About Forge Forge was established in 1995 and has grown to be a group of companies under the umbrella of Forge Holdings. With a history of building telecommunications and sensor management solutions, Forge has become a center for the creation and incubation of new product technologies. Forge will continue to provide custom solutions in distributed systems (Enterprise Service Management), large-scale data management and security. For more information contact info@forge.com.au
QIQ Solutions comes from a background of large scale mission critical application development and is a spin off company from The Forge Group of companies, with a focus to produce “out of the box” solutions that help customers get more from their BI implementations. QIQ Solutions has a suite of products including Map Intelligence, ES Designer, ES Architect, QIQ Merge and Query Intelligence which answer previously unmet business requirements for systems that can leverage investments in Business Intelligence (BI) tools. About Forge Data Solutions Forge Data Solutions Pty Ltd (Forge) specialises in information delivery and data quality. Forge provides complete solutions from analysis , system design and implementation - to hardware provision, data extraction software, cleansing, standarisation analysis, impact of change analysis, data model upgrades, and distribution. Using consultancy-based services, Forge delivers innovative solutions in information warehousing; data access, analysis and mining; and information distribution through intranet and Internet technologies. Contact |
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