Posted by Cindy Underwood on February 12, 2019 at 9:01 am
December 31, 2018 11:30 ET | Source: Magnitude Software
AUSTIN, Texas, Dec. 31, 2018 (GLOBE NEWSWIRE) — Magnitude Software, Inc., a leader in delivering unified application data management to global organizations, today announced the acquisition of Z Option Inc., Magnitude’s fourth acquisition in little over a year and eighth in total. Z Option, a leading provider of cost effective, ready-to-use software that significantly reduces the cost of using and implementing SAP, broadens and deepens Magnitude’s leadership presence in the SAP ecosystem, providing even greater value to the Office of Finance.
“Magnitude’s mission is to simplify the complex application landscape for our customers, enabling them to realize significant productivity gains by unlocking the value promised by enterprise platforms like SAP,” said Chris Ney, Chairman and CEO of Magnitude Software. “Z Option shares a similar mission – to improve customer return on SAP investments by delivering efficient execution of common SAP functions directly from Microsoft Excel®– making Z Option an ideal complement to Magnitude’s Unified Application Data Management product family.”
Magnitude, recognized on the 2018 Inc. 5000, recently announced the tripling of its recurring revenue, profit and global team over three years. The combination of Magnitude and Z Option facilitates faster, more accurate data management, reporting and analytics across SAP customers’ fragmented application environments from the convenience of Excel. Z Option’s GLSU and Budget Loader solutions complement Magnitude’s growing SAP Application Data Management solution set, which includes agile SAP data management and analytics from Magnitude’s Innowera, Every Angle and SourceConnect solutions. Magnitude’s Innowera solutions will further increase the productivity of GLSU users as they seek to perform bulk data management and journal entries in their SAP environments through workflow and governance capabilities already available in Magnitude’s Innowera solutions.
“We are excited about joining Magnitude as it will provide both companies the opportunity to accelerate global expansion in the SAP market. Together, we offer SAP customers an unmatched, unified application data management portfolio including a flexible, intuitive spreadsheet interface for collecting and posting financial transactions to SAP that boosts employee productivity,” said Jim Halepaska of Z Option.