Business Objects plays catch-up with SRC buy
Published: 22 Jul 2005 09:45 BST
Business Objects plans to acquire privately held SRC Software for about $100m (£56.9m) in cash, a move that fills out the company's product line and ratchets up the competition with Cognos and Hyperion. Business Objects on Wednesday said it will integrate SRC Software's financial planning and budgeting applications into its data analysis packages.
The planned acquisition is meant to give Business Objects a better product offering for corporate performance-management software — tools that allow companies to build so-called dashboards that present a snapshot of an ongoing process, such as the progress of a marketing campaign. "Organizations are looking to the CFO for more than financial gate-keeping and compliance, they want a strategic partner that can help them optimise business operations and plan for the future," Bernard Liautaud, chairman and chief executive of Business Objects, said in a statement. Competitors Cognos and Hyperion already have dashboard and financial planning programs that accompany their business intelligence tools.
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