Acquisition Targets Expansion into Rapidly Growing Market for Product Content Management for Multichannel Commerce
AUSTIN, Texas, Oct. 25, 2017 (GLOBE NEWSWIRE) — Magnitude Software, Inc., a leader in delivering corporate performance insights for organizations with increasingly fragmented application and data environments, today announced the acquisition of Agility Multichannel, a product information management (PIM) solutions provider focused on product content management and syndication for multichannel commerce enablement. The acquisition expands Magnitude Software’s ability to drive digital transformation for their customers, broaden coverage into the rapidly growing digital commerce market, and extend its portfolio of pervasive connectivity, master data management (MDM) and pre-packaged analytics solutions for corporate performance management (CPM).
“Our business was created to drive the end-to-end process of delivering insights to business leaders via access, harmonization and analytics to support business decision-making, and reduce operational cost and risk,” said Chris Ney, Chairman & CEO of Magnitude Software. “Today, we expand our capabilities in a growing and relatively under-served market with an agile PIM solution for product content management and syndication – without which organizations cannot efficiently deliver the content necessary for integrating into leading digital commerce solutions.”
According to Gartner, “Digital commerce has been growing rapidly for several years. Gartner forecasts that the digital commerce platform market will achieve a compound annual growth rate (CAGR) of 15% for the period 2015 to 2020.”*
Magnitude Software products allow customers to better leverage their ever-expanding data sets and sources via: connectivity to access the data wherever it resides; master data management to audit, govern, and harmonize data from multiple sources; and pre-packaged analytics to report on and analyze the data to derive trusted insights that improve and manage corporate performance. Agility Multichannel expands these capabilities in PIM, and specifically product content management and syndication for transforming commerce where there are similar needs to access data, manage and harmonize it, then publish it out through multiple channels to enable a customer-experience-focused digital commerce presence, as well as serve other PIM and product data management needs.
“Becoming part of a larger enterprise with strong organizational execution capabilities at scale, and expertise within adjacent markets, accelerates our ability to capitalize on the push for digital transformation, which we see as an imperative for companies seeking to improve or expand their commerce presence,” said Richard Hunt, CEO of Agility Multichannel. “The combined strengths of Magnitude Software and Agility Multichannel open up opportunities to deliver a broader range of complementary solutions that addresses the expanding and highly specialized needs of enterprises driving digital transformation.”
“Agility changed the way our company works. It streamlined processes, cleaned data, and created ‘one source of the truth’. It’s saved time, money and hassle,” said Agility customer Nick Cook, European Brand Director of TTI. “Users like it and embrace it because it’s intuitive and benefits them, no matter what level, or what department. That’s why it’s used, that’s why it’s successful.”
*Gartner report: Digital Commerce Requires an End-to-End Approach to Product Data, Michael Patrick Moran | Simon James Walker, 10 October, 2017
About Agility Multichannel
Agility® is a simple-to-use and highly sophisticated Product Information Management (PIM) solution that puts your most valuable product data at the stable core of a go-anywhere, sell-everywhere commerce strategy. We sell and service customers via: offices in Chicago, US, York, UK, and Malmö, Sweden, and integration and reseller partners throughout the world. Visit www.agilitymultichannel.com for open, un-gated access to screenshots, research, videos, customer use cases and more.
About Magnitude Software
Magnitude Software leads the way in delivering corporate insights for digital transformation with solutions that tackle the growing problem of data fragmentation in organizations of all sizes. Magnitude’s portfolio of products includes: pervasive connectivity, master data management (MDM) and pre-packaged analytics solutions for corporate performance management (CPM). For hundreds of thousands of users around the globe, the Company’s software and solutions drive real business results while reducing operational cost and risk. For more information, please visit www.magnitude.com