Business Objects acquires SRC software

HYDERABAD: Business Objects, provider of business intelligence (BI)

solutions, today announced that it has entered into a definitive agreement

to acquire privately-held SRC Software, a financial planning and performance

management software vendor.

The acquisition will be an all-cash transaction of approximately $100million

and will be accounted for under the purchase method of accounting.

Business Objects in a statement released to the media said that the

acquisition is subject to regulatory approvals and other customary closing

conditions and would be completed in the third quarter of FY2005.

SRC Software has been a long-term Business Objects technology partner,

offering solutions for strategic planning, forecasting, capital planning,

budgeting, sales and compensation planning, and consolidations.

SRC Software's performance management products were integrated today with

Business Objects' XI, allowing insight for all departments and functional

areas on the BI platform.

Subsequently, users can integrate with Microsoft Office in order to unlock

the power of their BI and planning information to drive new levels of

performance.