Datawatch Corp., a Chelmsford company that develops business software for data analysis, said it has agreed to acquire Panopticon Software AB, a privately held Swedish company specializing in the delivery of real-time visual data discovery solutions.
The all-stock transaction is valued at about $31.4 million based on the the closing price of Datawatch common stock as of June 14, Datawatch said in a press release. Completion of the transaction is subject to the approval of the Datawatch stockholders, which is expected to occur during its fiscal fourth quarter, which ends Sept. 30.
“The acquisition of Panopticon is a transformative event for Datawatch and the industry,” Michael A. Morrison, president and CEO of Datawatch, said in a statement. “This acquisition will immediately benefit our combined customers, partners, and prospects by allowing them to accelerate the development and deployment of solutions that use the wide variety of data formats and sources present in every organization. Our collective capabilities to address Big Data opportunities are vastly improved with the high velocity access enabled by Panopticon’s real-time visual data discovery solution and the variety of data sources and formats that can be transformed by the Datawatch Information Optimization platform.”