Datawatch agrees Panopticon acquisition
18 June 2013 | 2964 views | 0
Datawatch has agreed to buy Swedish real-time visual data discovery specialist Panopticon Software for around $31.4 million in stock.
Panopticon claims 12 of the world's 15 largest financial institutions among the clients for its data visualisation software, which helps monitor performance, analyse risk, detect fraud, and identify anomalies in vast amounts of real-time data.
US firm Datawatch says that the integration of Panopticon's software makes it the first company to deliver real-time analytics and discovery by accessing the industry's broadest variety of data types simultaneously.
The Panopticon software aims to bring all relevant data in a visually-rich, real-time analytical environment to enable customers like Citi and HSBC to isolate and resolve problems as they occur, perceive hidden patterns, track emerging market trends, and identify opportunities for competitive advantage and improved business processes.
Michael Morrison, CEO, Datawatch, says: "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 organisation."