Hoping to add more depth to its financial reporting solutions, Oracle has purchased the assets of HyperRoll, Inc., software that is used largely by corporate accounts to collect data from a variety of sources.
HyperRoll's products, which the company refers to as financial reporting acceleration software, are intended to help larger accounts more quickly close their books at the end of a quarter as well as offer upper management more visibility into financial data. Oracle officials said the newly acquired software should also lower user costs associated with compliance.
Oracle said it will add HyperRoll's products to its existing Enterprise Performance Management suite. That lineup already includes products it has developed along with those it acquired from Hyperion Solutions Corp. more than two years ago.
Initial reaction to the deal from one analyst raised questions about exactly what part HyperRoll's products would play in Oracle's overall strategy relative to its existing business intelligence-related offerings.
"There seems to be quite a bit of overlap between HyperRoll's functionality and BI Server. Is there a plan to fold HyperRoll into BI Server, or is there a plan to leave it as a standalone accelerator for Hyperion PM products?" Boris Evelson, principal research analyst with Forrester Research Inc., wrote in an email.
Oracle officials said they hope to close the deal with the Mountain View, Calif.-based company sometime later this year. Neither company disclosed the financial terms of the deal.