Expects to improve reporting performance and shrink close cycle
Oracle has agreed to acquire certain assets of HyperRoll, a provider of financial reporting accelerating software in a move to strengthen its Enterprise Performance Management software with additional reporting acceleration technology.
Oracle said that HyperRoll’s products will help it improve reporting performance, shrink the close cycle and improve visibility of financial data to line management. It expects that the addition of HyperRoll’s assets will improve the ability to report results with lower compliance costs.
HyperRoll, which provides data warehouse performance acceleration software, supports all relational databases including Oracle, Microsoft SQL Server, Teradata, IBM DB2 and Sybase ASE. Operating systems supported include Windows, Linux, Sun Solaris, IBM AIX and HP-UX. Its products cater to customers across multiple industries including, retail, consumer goods and financial services.
Robert Gersten, senior vice president Oracle Product Development, said: “Enterprise performance management is a critical requirement for organisations. Oracle Enterprise Performance Management already enables rapid, accurate, and secure financial consolidation and reporting. With the addition of HyperRoll’s reporting acceleration technology, customers are expected to be able to execute a faster and more compliant financial close.”
However, the transaction is subject to customary closing conditions and regulatory approvals and is expected to close later this year. Financial details of the transaction were not disclosed.