Datawatch Corp., a data management company, has acquired data visualization software provider Panopticon Software AB to allow clients to visualize all relevant data in real-time so they can see hidden patterns, track market trends and spot and resolve problems.
According to Ben Plummer, SVP and chief marketing officer of Datawatch, the acquisition will allow data accumulated in log files to be organized and used. Panopticon also allows users to compare current risk analysis or trading information to historical data stored in databases.
"Panopticon pioneered interactive, real-time visual data discovery to speed up business processes, reduce operation and investment risks, detect anomalies and identify opportunities for growth," says William De Geer, managing director of Panopticon.
[For more on how the use of data visualization is growing in financial services, read: Data Visualization's New Shine ].
President and CEO of Datawatch, Michael A. Morrison, states in a release that there are many benefits to the transaction. "Our collective capabilities to address big data opportunities are vastly improved with the high velocity access by Panopticon's real-time visual data discovery solution and the variety of data solutions and formats that can be transformed by the Datawatch Information Optimization platform," adds Morrison.
Mark Smith, CEO and chief of research at Ventana Research, states "Effective visualization of business information is in heavy demand; our research shows that 48 percent of organizations have indicated presenting data visually is an essential business analytics capability."
Datawatch is set to acquire all outstanding shares of Panopticon in an all-stock transaction, valued at $31.4 million, which is based on the closing price of Datawatch common stock as of June 14. Completion of the transaction, subject to approval of Datawatch stockholders, is expected to occur during the forth quarter. Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio