Cognos finalizes its $339-million buy of Applix Inc., acquiring all of the Massachusetts company's outstanding shares at $17.87 a piece. Announced in September, the deal gives Cognos access to Applix's customer base in Asia. "The Cognos-Applix combination is a great fit strategically and culturally. Our position as the world's leading independent provider of performance management solutions is now stronger than ever," says Rob Ashe, CEO of Cognos. The company is confident that by acquiring Applix's profitability management software it will position itself to take advantage of the $2 billion financial performance and strategy management (FPSM) market. Packaged profitability applications currently represent an estimated 20% of the FPSM market, which Cognos can expand upon with its business intelligence solutions. Applix has more than 3,000 customers worldwide and expects year-over-year growth of US$61.2 million next year.