Why did Magnitude Software acquire Innowera?
Magnitude’s acquisition of Innowera – its second acquisition this quarter – expands its portfolio of solutions in the SAP marketplace and aligns with its commitment to unifying the enterprise where disparate applications result in increasing data fragmentation. One of the largest global ERP providers with a 23% market share, and the leader in enterprise information management based on revenue according to Gartner, SAP is a dominant solution provider representing a significant market opportunity for both Magnitude and Innowera. Additionally, Innowera will broaden Magnitude’s direct access to users within the office of Finance, a key customer for solutions such as Magnitude SourceConnect, Magnitude RapidDecision and Magnitude Connectivity solutions.
Together, Innowera and Magnitude provide solutions that increase employee productivity, simplify data access and management, and enable visibility into critical data for SAP users. The combined portfolios facilitate faster, more accurate reporting and analytics across customers’ fragmented application environments.
Innowera increases user productivity and time savings by enabling users to interact with SAP faster and more easily using mediums such as email and mobile – a competitive differentiator. Targeted at non-technical business users, Innowera automates SAP transactions for those users, providing accurate and seamless connectivity between SAP and Excel with built-in compatibility to thousands of SAP workflows. Additionally, Innowera provides governance for managing SAP business processes across a wide range of adjacent applications including Excel, SharePoint, and Salesforce, among others. The company, similar to Magnitude, has a strong commitment to customer success and is highly regarded for the loyalty and engagement of their customer base.
Joining an experienced, customer-focused company like Magnitude will enable Innowera to scale its go-to-market initiatives, expedite its product roadmap, and more effectively support its loyal – and growing – global customer base.
Magnitude has completed a total of six acquisitions.
What does this mean for Innowera customers?
Magnitude’s highest priority is customer success, and that includes taking care of Innowera’s loyal base of customers. The combined strengths of Magnitude and Innowera will provide customers with better and new ways to harness the fragmented digital landscape for business benefit.
The acquisition offers numerous benefits to Innowera customers including:
- Greater choice in solutions: Magnitude offers Innowera customers solutions to support their packaged analytics and reporting needs; a rapid, low-cost, low-risk implementation of SAP S/4HANA Central Finance; and support for enterprise-wide data management initiatives. Innowera customers will also have access to Magnitude Connectivity, PIM for digital commerce, and master data management solutions.
- Continued customer success: Magnitude is committed to its customers and their success, applying its expert team, innovative solutions and technology-enabled support to ensure the best possible outcomes. Innowera’s loyal, global customer base will continue to be engaged and receive exceptional service and support. Magnitude and Innowera remain focused on helping our customers accelerate time-to-value, reduce costs and risks, and increase productivity.
- Increased scale and go-to-market capabilities: Magnitude brings scale to Innowera and will use its deep go-to-market expertise to accelerate its pace of product innovation, market reach and customer success. Over time, the companies will realize additional go-to-market synergies via bundling opportunities with Magnitude RapidDecision and Magnitude Connectivity solutions to increase value for customers.
What does this mean for Innowera partners?
Magnitude has a best-in-class global network of partners and looks forward to welcoming Innowera partners to its network. Partners will realize several benefits as Magnitude expands Innowera’s market presence and revenue stream: opportunities to grow their business given the new capabilities and scale for go-to-market, portfolio expansion with new Innowera solutions, and the addition of other Magnitude solutions to their offerings.
What does this mean for Magnitude customers?
Magnitude customers can immediately benefit from Innowera’s solutions, particularly non-technical users requiring easy access to SAP transactions, data and processes. Moving forward, as the companies combine their strengths, additional bundled offerings will be available to customers to further enable them to address data fragmentation pain points across the enterprise.
How does this effect Magnitude’s SAP plans?
The Innowera and Magnitude portfolios are largely complementary for SAP and within the reporting and analytics segment. Innowera provides a foothold of knowledge and expertise in the SAP ecosystem, increasing the strength and breadth of Magnitude’s solution suite.
In addition to expanding Magnitude’s addressable SAP market and aligning with the Company’s existing technical buying targets, Innowera provides Magnitude access to users within the office of finance, which presents cross-sell opportunities with the Company’s existing SAP solutions, most notably Magnitude SourceConnect.
Magnitude is excited by the opportunity to share Magnitude SourceConnect with this audience as the solution offers SAP users pre-built solutions to connect and harmonize multiple source systems for the fastest, lowest cost, and lowest risk implementations for SAP S4/HANA for Central Finance.
How will this impact the Innowera leadership and team?
Magnitude considers the Innowera team a valuable asset as the companies move forward together; as such there are no leadership changes planned. Employees, customers and partners can expect a “status quo” environment with exciting new opportunities available for everyone. Both organizations look forward to learning from and working with each other as the organizations become integrated over time.
This move allows Magnitude to establish this new and critical product set in its solution portfolio, with Innowera Founder and Chief Solutions Architect, Mickey Shah as Chief SAP Solutions Architect for Magnitude Software. This new role is important in the execution of Magnitude’s strategic plan. Magnitude is also thrilled to welcome all other Innowera team members to the Magnitude family.
Will there be any changes to the current service level or existing customer contacts?
No. All existing support and service arrangements will continue without interruption and Innowera’s customers will work with their existing Support and Engineering contacts.
Ensuring Innowera’s existing and soon-to-be customers are successful is a Magnitude priority. Innowera will operate within the Magnitude family and we will continue to service and support existing products, as well as commit resources to enhancing product value for customers.
Magnitude recently completed the acquisition of Agility Multichannel, how long before customers see the benefit of the integration of all these acquisitions?
Magnitude is committed to integrating the organizations, processes and technologies of all its acquisitions over time so that customers have access to an innovative and broader set of capabilities from Magnitude. Magnitude’s motto for acquisition is “first, do no harm”. Magnitude follows a process that is focused on preserving “best of both” companies and is customized for every acquisition. Magnitude remains steadfast in its commitment to provide its customers with software and solutions that drive real business results in an increasingly dispersed application environment characterized by data fragmentation and a demand for self-service.
Who should I contact if I have further questions on the acquisition?
While we will continue to be proactive in communicating to customers and partners any changes that directly affect them. Please refer to the information below if you have questions regarding the acquisition:
Innowera Customers – Brian Fleming
US +1 214 295-5055 x130
Magnitude Customers – Bill Stephens
US mobile +1 770 355-8555
If you would like to stay informed of the latest Magnitude Software news and developments, please visit www.magnitude.com.
Additional contact information for both Innowera and Magnitude are as follows:
General Questions – Innowera
See our contact information and forms here.
Press & Media Contact:
Lauren Johnson, Scratch Marketing + Media