Brio Technology
| Company type | Public |
|---|---|
| Industry | Software, Business intelligence |
| Founded | 1984 |
| Founder | Yorgen Edholm, Katherine Glassey |
| Defunct | 2003 |
| Fate | Acquired by Hyperion Solutions |
| Headquarters | San Francisco , United States |
| Products | Data Prism, DataPivot, Data Edit, Brio 8 |
Brio Technology was a software firm based in the San Francisco Bay area, established in 1984 by Yorgen Edholm and Katherine Glassey. Renowned for its contributions to business intelligence software, Brio introduced DataPivot for the Apple Macintosh. The company was acquired by Hyperion in 2003, which itself was later purchased by Oracle in 2007. Hyperion’s performance management applications formed the basis for Oracle Enterprise Performance Management (EPM) Cloud. Initially, Brio’s products were incorporated into Oracle Business Intelligence (OBIEE), but over time they were replaced by Oracle’s business intelligence platform obtained through its 2006 acquisition of Siebel. Today, the remaining Brio clientele primarily consists of legacy users.
History
Brio was founded in San Francisco in 1984 as a consulting enterprise and initially earned revenue through contract projects with Metaphor Corporation and custom software development.
Business intelligence software
By 1990, Brio had developed its inaugural product, Data Prism, designed as a database query and analytical tool.
In 1991, the company launched DataPivot, an early OLAP application that enabled automatic aggregation of data. This technology was later sold to Borland and incorporated into Quattro Pro. The pivot table concept pioneered by DataPivot influenced later spreadsheet tools such as Microsoft Excel and bore similarities to Lotus Improv. Brio secured a patent for this "Cross Tab Analysis and Reporting Method" in 1999.
In 1993, Brio introduced Data Edit, which allowed direct editing of data within relational databases including Oracle, Sybase, and DB2.
After receiving investment from venture capital firm Kleiner Perkins in 1995, Brio underwent management changes with Yorgen Edholm becoming the sole CEO. This restructuring set the stage for the company’s initial public offering on Nasdaq under the ticker BRIO on May 5, 1998.
Leveraging funds from the IPO, Brio expanded through acquisitions, notably purchasing SQRiBE Technologies—a Palo Alto-based company specializing in reporting tools (SQR) and portal solutions (ReportMart).
Executive changeover
The 1999 merger with SQRiBE temporarily propelled revenues to a peak of $150 million in 2000; however, financial difficulties soon followed. After recording a net loss in the first quarter of 2001, CEO Yorgen Edholm stepped down, with co-founder Katherine Glassey also departing shortly thereafter.
Craig D. Brennan, formerly Senior Vice President of Global CRM at Oracle, assumed the CEO role on January 1, 2001. He quickly identified deeper challenges including the aftermath of the Tech Bubble burst, economic recession pressures, and a merger that lacked integration planning or aligned business processes.
Within six months, Brennan assembled a new leadership team and shifted focus toward Brio 8—its first fully integrated Business Intelligence suite featuring a web-based "zero footprint" architecture designed to replace legacy mainframe and client-server models.
Despite a difficult market environment in 2001 that necessitated two significant rounds of layoffs to reduce expenses and preserve cash reserves, Brio achieved cash flow breakeven by the end of that year. In 2002, the company streamlined its business operations, concentrated development efforts on Brio 8, and strengthened support for key customers. The launch of Brio 8 was positively received, revenue growth resumed, and profitability returned.
Acquisition by Hyperion
By 2003, anticipating the approaching consolidation within the business intelligence sector, Brio’s management pursued acquisition opportunities while simultaneously enhancing revenue and profitability. Hyperion Solutions was identified as the preferred acquirer; after several quarters, Brio was successfully purchased and integrated into Hyperion’s framework.
Following the acquisition, Hyperion capitalized on Brio’s technology to generate additional sales prospects, sustaining a consistent 30% annual growth in product revenue. Hyperion’s share price climbed from $15 to above $50 within a few months. In March 2007, Oracle declared its intention to acquire Hyperion, a transaction completed in July 2007.
External links
- "Hyperion To Acquire Brio Software" Press Release
- "Brio Resources: Products, Support, and Discussion Forums" from the Hyperion Developer Network