Business Objects has acquired Armstrong Laing Limited (ALG Software), an enterprise performance optimisations solutions provider. Business Objects claims the move strengthens its European insurance customer base and enhances its enterprise performance management software portfolio.

ALG is based in Cheshire, England and has more than 800 customers, including many large European financial services firms - such as the Royal Bank of Scotland, Lloyd's of London, HSBC and Direct Line Financial Services - and had total 2005 revenue of approximately $56 million.

The acquisition, says Business Objects, will enable the company to expand its enterprise performance management software portfolio with solutions for profitability management, activity-based costing, predictive planning and strategic performance measurement, according to the vendor.