Goldman Sachs’s private capital investment group has acquired business intelligence software vendor Information Builders of New York City.
Even with a minority stake, Goldman Sachs now has entered into the lucrative BI and analytics market, which is projected to be worth $27 billion by 2021 according to research from MarketsandMarkets.
What made Information Builders attractive to Goldman Sachs was the software’s ability to do data integration and data quality, its strong reputation in the market place and its roster of customers.
For Information Builders, Goldman Sachs addresses the company’s need for additional financial resources for fueling its long-term growth plans. With this move, Michael McGinn, managing director at Goldman Sachs joins Information Builders’ board of directors. McGinn heads the private capital investing group at Goldman Sachs. His group works to provide junior capital for growing and mid-market companies based in North America.
No other leadership changes will be made as a result of this deal.
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Gerald Cohen, president and CEO of Information Builders said, the company is extremely pleased to have Goldman Sachs as an investor and this investment affirms the value of its world-class technology and services, while reinforcing the company’s efforts to grow.
Stephen Kerns, the vice president of Goldman Sachs’ Private Capital Investing group, said this about Information Builders:
“Information Builders has a long history of market leadership and customer-focused solutions, as demonstrated by its very strong reputation and impressive customer base. We look forward to working with Information Builders to further position the company for long-term growth.”