XLCubed has been a leading Excel-centric BI vendor for many years and is based in the UK with a worldwide customer base, including some shared customers with BIX. XLCubed has grown significantly in the last decade and has circa 1,000 customers across many industries and operates through an extensive partner network. It has its history in providing solutions to some of the world’s biggest multi-national companies. BIX was XLCubed’s second M&A activity of 2019 and we expect further activity in this area in 2020.
The importance of BIX to its existing customers is well understood and we assure you of our intention to continue to develop and support BIX going forward. The support and development team at BIX remain in place at the same office and are very happy with the acquisition as it provides additional resource, investment and the opportunity to augment BIX software with XLCubed capabilities in a synergistic way. This process has already started and we are excited about the opportunities.
Mark Scanlon CEO of XLCubed said,
“ I had been aware of BIX for a number of years and I am so pleased that the opportunity to combine the many decades of collective experience in Excel based BI tools arose. During the diligence process we were impressed by the vision and quality of the product development team, who will now work closely with the XLCubed team. Both XLCubed and BIX have significant experience in servicing enterprise customers across many industries particularly in the financial area, and our assertion is that we can take the best of both to continue to service and expand the growing set of customers”