Oracle is buying software assets from HyperRoll to improve the reporting capabilities in Oracle’s financial management software, the companies announced Monday.
HyperRoll develops so-called financial reporting acceleration software, which is used by large companies to aggregate data from different sources and close their books faster at the end of a financial quarter. Oracle plans to add the software to its Enterprise Performance Management suite.
HyperRoll is a privately held company based in Mountain View, California. Oracle expects to close the deal later this year, subject to regulatory approvals, it said. Financial terms weren’t disclosed.
HyperRoll’s products include the Data Performance Management System, which is designed to accelerate query times for data warehouse applications, and LiveLink, a reporting tool that works with Oracle’s Hyperion Financial Management software.
HyperRoll’s products work with all the leading databases, including Oracle, IBM’s DB2 and Microsoft’s MySQL. In a Frequently Asked Questions document about the deal, Oracle didn’t say whether HyperRoll would continue to support Oracle competitors’ databases. HyperRoll also offers software for customers of SAP, Oracle’s rival in the applications market.
Oracle said it expects to retain some of HyperRoll’s employees. It will provide an update on HyperRoll’s product road map when the deal closes.