Cognos Buys Spanish BI VendorCognos Buys Spanish BI Vendor

Cognos acquired Optima Analytical Solutions, a Madrid, Spain-based business intelligence software company, in an effort to broaden its operations in that country.

Optima, formerly a unit of Sage Finance, will operate under the name Cognos Espana. The transaction closed last month. Cognos withheld financial terms of the deal, which it announced Tuesday.

"We regard the Spanish market as key to accelerating our presence in southern Europe," Ad Voogt, Cognos senior vice president for European Operations, said in a statement.

Optima makes financial performance management applications, Cognos said.

Cognos has openly expressed its desire to expand operations in Europe. It announced the $52.2 million acquisition of Frango, a Swedish maker of financial consolidation and reporting software, last summer.