Insightsoftware, Inc, a provider of financial reporting and enterprise performance management software, has purchased Magnitude Software from 3i Group PLC.
Magnitude is a provider of data management software solutions. The company focuses on helping companies turn core data into continuous, actionable intelligence. Magnitude serves more than 1300 enterprises throughout the world.
“The Company has strengthened its product portfolio, further developed its SaaS offering and invested in sales and marketing, which has materially enhanced its growth rate,” added Andrew Olinick, partner at 3i. “We believe the combination with Insightsoftware will provide a very compelling solution to Magnitude’s customers and employees. We have thoroughly enjoyed working with Magnitude’s world-class team and we are looking forward to following the continued success of the company.”