Sisense’s acquisition of Periscope Data combines the buyer’s business intelligence platform with Periscope’s cloud data analytics expertise as Sisense looks to up its analytics game.
The merger announced on Tuesday (May 14) gives New York-based Sisense access to Periscope Data’s analytics platform as it seeks to upgrade its current business intelligence platform to meet the needs of data scientists.
Terms of the acquisition were not disclosed. The merger allows Sisense to tighten its focus on data scientists developing cloud analytics tools as well as business analysts. The combined company would have annual recurring revenues of more than $100 million and its headcount would jump to about 700 employees.
Periscope Data founders Harry Glaser and Tom O’Neill will join Sisense. Amir Orad remains as CEO at Sisense.
The combined data analytics vendor claims more than 2,000 customers, including GE and the Nasdaq stock exchange. Periscope Data’s current customers include freight management specialist Flexport, the dating site Tinder and Spotify.
Orad said the acquisition would solidify Sisense’s position as a “single-stack, unified platform” vendor capable of combining cloud, big data and machine learning technologies.
“By combining forces, we’re creating a comprehensive business analytics platform that can serve every data user and team at a company, from a data scientist to a sales manager,” Glaser noted in a blog post announcing the merger.
“We will continue to build and develop our roadmap, while integrating it into the combined Sisense platform,” Glaser added.
Sisense ranked among the leaders in customer satisfaction in a survey of business intelligence vendors released last year by G2 Crowd, trailing only InsightSquared.
Periscope Data has previously raised $34.5 million in four venture funding rounds, according to the web site Crunchbase.com. The combined company would have more than $200 million in funding.