Rocket Software Inc. has spent $35 million in cash to acquire Astrac, whose software is used to transform raw data into business information that can be analyzed.
Rocket code is used to extend a range of applications from companies in sectors such as storage, networking, operating systems, and databases. Rocket helps enable applications from companies like New York-based IBM Corp. (NYSE: IBM), Bedford's RSA Security Inc. (Nasdaq: RSAS), and Hopkinton-based EMC Corp. (NYSE: EMC).
Rocket is based in Newton and employs more than 200 people.
It is Rocket's second acquisition in a month and its largest to date. In late May, Rocket bought Austin, Texas-based Servergraph for $10 million, gaining backup analysis tools.
Astrac was founded in 1986 and is based in Warwick, England. It was recently ranked the 14th fastest-growing company in the United Kingdom by Deloitte & Touche LLP.
"Europe is a particularly significant market for us, and this deal greatly increases our presence," said Andy Youniss, chief executive of Rocket, in a prepared statement. "We are looking forward to expanding the Warwick-based development center to tap the talent not just at Astrac, but in the technologically strategic area of the U.K.'s West Midlands, for new-product development efforts."