Business Objects To Acquire SRC Software - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Software // Enterprise Applications
News
7/21/2005
10:29 AM
50%
50%

Business Objects To Acquire SRC Software

The $100 million acquisition of the financial planning and budgeting application vendor will help Business Objects expand its performance-management offerings.

Business-intelligence software vendor Business Objects SA will acquire SRC Software Inc., a privately held developer of financial-planning and performance-management software, for approximately $100 million in cash, the companies announced Wednesday.

The acquisition is subject to regulatory approval. Business Objects CEO Bernard Liautaud said in a conference call that he expects to complete the acquisition in September.

Liautaud said the deal will allow Business Objects to add financial planning, budgeting, and consolidation applications to its core business-intelligence product line. That will help the company offer a more complete line of tools for performance management, the process of developing strategic plans and monitoring a business' operational performance toward meeting plan goals.

"We believe the business-intelligence market is evolving rapidly from a tactical to a more strategic one," Liautaud said. "In order to have the complete solution in [enterprise performance management], we need planning and budgeting capabilities."

The acquisition is similar to the 2003 acquisition of financial-planning software vendor Adaytum Inc. by Cognos Inc. -- Business Objects' chief rival in the business-intelligence space -- for $157.1 million.

Liautaud was critical of Cognos' move at the time, arguing that it would be a distraction from Cognos' core business. Wednesday Liautaud said Business Objects wanted to finish the process of integrating the products and business operations of Crystal Decisions Inc., which Business Objects acquired in late 2003 for $1.2 billion, before taking its own steps to acquire a financial-planning software vendor.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

Commentary
Why IT Leaders Should Make Cloud Training a Top Priority
John Edwards, Technology Journalist & Author,  4/14/2021
Slideshows
10 Things Your Artificial Intelligence Initiative Needs to Succeed
Lisa Morgan, Freelance Writer,  4/20/2021
Commentary
Lessons I've Learned From My Career in Technology
Guest Commentary, Guest Commentary,  5/4/2021
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Planning Your Digital Transformation Roadmap
Download this report to learn about the latest technologies and best practices or ensuring a successful transition from outdated business transformation tactics.
Slideshows
Flash Poll