Oracle Gobbles Up HyperRoll
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Oracle on Tuesday announced it will purchase Mountain View, Calif.-based HyperRoll, a maker of financial reporting acceleration software, for an undisclosed cash amount.
Company officials said the deal is expected to close sometime later this year. In a release announcing the purchase, Oracle said all of HyperRoll's employees are expected to remain with the newly combined company.
HyperRoll's data performance management software helps improve financial reporting performance, shrink the close cycle of new sales and improve visibility of financial data to managers. In its first quarter, the privately held firm said it improved its total licensing revenue by 533 percent from the year-ago quarter.
"Enterprise performance management is a critical requirement for organizations," Robert Gersten, senior vice president of Oracle's product development group, said in a statement. "With the addition of HyperRoll's reporting acceleration technology, customers are expected to be able to execute a faster and more compliant financial close."
Tuesday's acquisition is just the latest in a dizzying string of acquisitions for Oracle. Two years ago, it snapped up middleware provider BEA systems for $6.7 billion and the company is still sweating out Europe Commission approval of its $7.4 billion purchase of Sun Microsystems announced earlier this year.
Two weeks ago, Oracle reported first-quarter earnings in line with analyst estimates but missed revenue targets primarily as a result of an unfavorable foreign currency exchange and sluggish new software licensing sales.
Oracle shares closed off $0.05 a share to $21.12 ahead of the announcement and remained unchanged in after-hours trading late Tuesday afternoon.