Expands Implementation Capabilities in Business Performance Analytics
MIAMI, FL—July 30, 2003 —Answerthink, Inc. (Nasdaq: ANSR) announced today that it has purchased Beacon Analytics Inc., a company specializing in Hyperion software implementations and business performance analytics. The acquisition is expected to add approximately $8.0 million in annualized revenue to Answerthink, and will further strengthen Answerthink's ability to provide planning, reporting, and decision support solutions to its clients.
Answerthink is a leading business and technology consulting firm that enables companies to achieve world-class business performance. Beacon Analytics is a business performance management consulting company focusing on the implementation of Hyperion software. Beacon's principal industries include financial services, manufacturing, insurance, health care, retail and consumer products. Its primary markets include California, Texas, New York/New Jersey, and Illinois.
"This acquisition significantly strengthens our capabilities in both Hyperion Essbase and finance-related Hyperion applications, which in turn enhances our ability to help clients achieve broad transformation in finance and other areas," said Tom Hoblitzell, Managing Director of Answerthink's Business Intelligence Group. "Beacon has a proven track record implementing Hyperion-based decision support and analytics systems with Fortune 500 companies. Their skill set provides an excellent complement to our abilities in decision support, data warehouse development, and finance transformation, and to The Hackett Group best practices in planning and budgeting, performance management, and reporting and analysis that we bring to the table. Taken together, all this puts us in a unique position to help companies improve their decision-making throughout the entire organization."
According to Beacon Analytics' President Leah Wheelan, "Beacon has been very successful as a boutique consulting firm focused on the Hyperion Business Performance Management arena. Our clients are some of the leading companies in financial services, manufacturing, retail, and health care. Answerthink has a powerful value proposition in its ability to offer clients comprehensive consulting services and technology implementations that integrate proven best practices from The Hackett Group. We're excited to become part of their organization, and believe our clients will be very receptive to the broader range of consulting services that Answerthink can offer them."
Today's announcement follows on the heels of another recent expansion of Answerthink's business intelligence offerings. Answerthink recently introduced Rapid Insight, a solution framework that quickly and easily adds powerful decision support capabilities and financial analytics to leading business applications. The solution combines the capabilities of leading financial analytics software with integrated proven best practices and business metrics from The Hackett Group to provide companies with clear insight into current performance and market trends, enabling executives to make smarter, faster, and more efficient decisions.