It’s a testimony to the strength of and prospects for Magnitude Software that the FTSE 100 investment company, 3i has made a significant investment.
For a company formed just 5 years ago that tripled profits in 3 years, and now has secured the 3i investment ($340m enterprise value, $179m equity), Magnitude Software is surprisingly under the radar. I can almost guarantee that few have heard of us when I’m out at parties – with the exception of our Christmas (staff) party. Yet Magnitude Software boasts 50% of the Fortune 100 as customers and all of Gartner’s MQ BI leaders are relying on products from the Magnitude solution portfolio.
Magnitude is focused on delivering the often-behind-the-scenes solutions to allow companies to connect to, manage, syndicate and analyze data. Why is this important? Take eCommerce: Gartner reports that more than 50% of commerce sites are already integrating technologies from more than 15 vendors. Perhaps less glamour to procure than the well-known digital platforms … unifying applications, in which Magnitude specializes, is now critical!
And unlike some fast changing eCommerce fads, such core technology infrastructure is highly likely to be in place for a long time.
Consider Agility Multichannel, a company acquired by Magnitude for its Agility Product Information (PIM) Software in 2017. Now a Magnitude subsidiary, Agility has built an impressive PIM customer roster over 20 years – when Google was a twinkle in the eyes of Larry and Sergey. Over this time, our customers may have migrated through multiple eCommerce solutions as part of their digital growth. But PIM, with its promise of single view, and management of content and data will never go out of fashion. In fact, PIM and MDM (Master Data Management) technology, which prevents siloed information, has proven to be essential for companies to easily replace and embrace new digital technologies.
In my Content Gravity article (originally published in German: Das Produktkulturmagazin) , I stated that for smart companies focused on investing in the long-term, the center of data or content gravity is changing. No longer do these companies want their content and analytics being siloed within the front-end marketing digital applications. Nor do they want their data managed directly in their heavy-duty backend ERPs. They are demanding a balanced center of gravity and neutral environment, which provides the optimum single and business user view for data management, analytics and decision making.
This unifying of enterprise applications specifically focused on helping business users work intuitively is our forte. It’s why today’s digital enterprises are turning to us to drive and extend more value from their application investments for the future.