Cognos

In 1969, Alan Rushforth and Peter Glenister founded Quasar Systems Limited, a consulting firm for the Canadian federal government. The company initially focused on consulting but shifted to software sales in the 1980s, officially changing its name to Cognos in 1982. This new name, derived from the Latin word 'cognosco', meaning 'knowledge from personal experience', reflected its new direction in business intelligence (BI). The company went public in August 1986, listing on the Toronto Stock Exchange and NASDAQ. Cognos became a key player in the BI and performance management software industry, providing tools that helped businesses analyze data to make smarter decisions. As the BI software market consolidated, major tech companies began acquiring independent firms. Following acquisitions by its rivals Oracle and SAP, the stage was set for another major move. In late 2007, IBM announced its plan to acquire Cognos for approximately $5 billion. The acquisition was finalized on January 31, 2008. This move positioned IBM as a leading provider of BI and performance management technology. The Cognos brand continues to exist as a line of products within IBM's software portfolio.