Oracle makes $3.3bn acquisition of Hyperion

Latest purchases aims to woo SAP customers

Oracle cheif executive Larry Ellison

Software giant Oracle is continuing its purchasing spree with the $3.3bn (£1.7bn) acquisition of performance management vendor Hyperion Solutions .

The purchase follows Oracle's recent high profile acquisitions of PeopleSoft and Siebel and is another indication of its ambition to conquer the application sector and win customers away from rival SAP.

Oracle chief executive Larry Ellison says the deal will propel the company to the top of the enterprise performance management market.

'Hyperion's EPM software coupled with Oracle's Business Intelligence (BI) tools and analytic applications form an end-to-end performance management system that includes planning, budgeting, consolidation, operational analytics and compliance reporting,' he said.

Oracle president Charles Phillips said: 'Hyperion is the latest move in our strategy to expand Oracle's offerings to SAP customers.

'Thousands of SAP customers rely on Hyperion as their financial consolidation, analysis and reporting system of record. Now Oracle's Hyperion software will be the lens through which SAP's most important customers view and analyse their underlying SAP ERP data.'

The deal is subject to approval but is expected to be completed in April.

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