Microsoft announced the acquisition of Fungible Inc., a provider of composable infrastructure aimed at accelerating networking and storage performance in data centers with high-efficiency, low-power data processing units. OneStream announced that its Annual Recurring Revenue grew 50% year-over-year, surpassing $300 million in the fourth quarter, ending December 31, 2022. The company grew its customer base by more than 25% year-over-year, now totaling over 1,100 customers globally. OneStream’s global headcount also increased by 25% in 2022 to nearly 1,300, with the company also signing 12 new partners in the fourth quarter. Qlik announced its intention to acquire Talend, an open-source data integration platform, which would bring together two Thoma Bravo-backed industry leaders with a shared focus on adding value to data to deliver business outcomes for customers.
Hi and welcome to episode 71 of The ERP Minute. I am your host, Rebekah McCabe.
Recently, Microsoft announced the acquisition of Fungible Inc., a provider of composable infrastructure aimed at accelerating networking and storage performance in data centers with high-efficiency, low-power data processing units. The Fungible team will join Microsoft’s data center infrastructure engineering teams and will focus on delivering multiple DPU solutions, network innovation, and hardware systems advancements.
As more Microsoft customers are selecting cloud products, infrastructure solutions like Fungible Inc.’s offerings will inevitably enhance Microsoft’s value to their ERP customers. As we have reported, ERP vendors investing in data center technology is something we are very bullish on and will be extremely beneficial for software customers in the long term.
Last week, OneStream announced that its Annual Recurring Revenue grew 50% year-over-year, surpassing $300 million in the fourth quarter, ending December 31, 2022. The company grew its customer base by more than 25% year-over-year, now totaling over 1,100 customers globally. OneStream’s global headcount also increased by 25% in 2022 to nearly 1,300, with the company also signing 12 new partners in the fourth quarter.
OneStream is seeing significant growth where they are continuing to gain more and more traction in the Corporate Performance Management space, even more than their competitors. OneStream is really establishing CPM as a formidable market where it is no longer just an afterthought to ERP. In some cases, it may even be a valid alternative to switching out ERP solutions. As we cover in The ERP Minute, ERP applications are primarily for transaction processing, so layering CPM solutions on top of the ERP is a very successful strategy and we expect to see that need continue to increase.
Finally, Qlik announced its intention to acquire Talend, an open-source data integration platform, which would bring together two Thoma Bravo-backed industry leaders with a shared focus on adding value to data to deliver business outcomes for customers. Together, they will provide comprehensive and complementary capabilities with solutions across real-time data and application integration, data governance, data quality, transformation, analytics, AI, and machine learning.
Qlik, which traditionally offers reporting and analytics solutions, now combined with Talend, expands its footprint and capability to a multitude of new enhancements. The cleverness in this strategy is that Qlik has a robust customer base, and those customers are already dealing with disparate data challenges throughout the enterprise, so using integration tools from Talend to bring in even more information will only help Qlik customers gain more real-time access in their organizations. We expect to see many more such integrations from Private Equity-backed companies, infrastructure tools merging with reporting and analytics, and even in ERP. Customers have too many technology options to vet, so consolidation will only help moving forward.
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