Infogix, a software provider backed by private equity giant Thoma Bravo, has acquired Lavastorm, a data preparation and advanced analytics solutions company.
Naperville, IL-based Infogix was originally founded as Unitech Systems Inc. in 1982 by Madhavan K. Nayar. Renamed in 2005, the company began expanding outside of IT and Finance areas within organizations, launching a “Business Operations Management” solution for entire company operations. The SaaS provider now lists much of the Fortune 100 and Global 2000 companies as clients, including Wells Fargo, Target, Progressive and Verizon, across industries such as financial services, healthcare, insurance, and media and communication.
The company has touted its customer retention rate near 100%, as clients use its platform to mitigate risk and conduct data analysis for better decision making and customer experience. Infogix indicates that its top 10 customers have stayed with the firm for over two decades, using its data management software platform to streamline operational efficiency and boost corporate profitability.
In acquiring Lavastorm, Infogix says it intends to build out its offerings with enterprise-grade business applications, intuitive data preparation and agile analytics, that should help enterprises sift through a growing amount of data and turn it into actionable business insights.
Boston, MA-based Lavastorm was founded in 1999 and has raised $55 million in three rounds of funding from backers including Hummer Winblad Venture Partners, according to Crunchbase.
The acquisition, effective immediately, will merge Infogix’s data management background with Lavastorm’s data preparation and advanced analytics capabilities.
Terms of the deal were not disclosed.
Infogix, which has been a Thoma Bravo portfolio company since 2016, acquire both Data3Sity and Data Clairvoyance Group in 2017.
“With its recent acquisitions, Infogix strengthened their already best-in-class data management platform; joining forces with them made sense,” stated Tim Segall, CEO of Lavastorm. “By combining Infogix, Data3Sixty and Lavastorm, we can provide a deeper set of capabilities across data preparation and data analytics to help businesses gain a competitive advantage by swiftly unlocking the potential of their data.”