Briefs

By Hannah Smalltree, 01 Mar 2007 | SearchDataManagement.com

Oracle today agreed to acquire Santa Clara, Calif.-based Hyperion Solutions Corp. for $3.3 billion in a step that now makes Oracle No. 1 in the business intelligence market, according to Charles Phillips, Oracle president.

The Redwood City, Calif.-based database giant announced the move early this morning, just hours after it closed its third quarter books. The deal represents a cash tender offer of $52 per share. The transaction is subject to customary closing conditions and is expected to close in April 2007.

The announcement comes after a string of acquisitions by Oracle, many intended to bolster its Project Fusion initiative. This latest, "strategically important acquisition" will make Oracle the category leader in the corporate performance management (CPM) market, and will support its burgeoning business intelligence (BI) business, according to Phillips.

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