Oracle ties up Hyperion acquisition

Oracle has completed its acquisition of Hyperion Solutions, snapping up around 55.4 million shares representing approximately 91.7 per cent of the company.

The database giant announced the acquisition of the business intelligence firm last month, continuing a three-year long shopping spree.

Oracle paid in the region of $3.3bn for Hyperion, following acquisitions of PeopleSoft and Siebel. Oracle has shelled out more than $20bn on acquisitions since 2004.

Hyperion is one of the big three business intelligence vendors alongside Business Objects and Cognos, and reported turnover of $765m in 2006.

Larry Ellison, chief executive at Oracle, said that the acquisition of Hyperion would boost its position in the high growth enterprise performance management market.

"Hyperion's enterprise process management software coupled with Oracle's business intelligence tools and analytic applications form an end-to-end performance management system that includes planning, budgeting, consolidation, operational analytics and compliance reporting," he said.

Oracle will designate six representatives to serve on Hyperion's board of directors, giving Oracle majority board representation.

Two of the current Hyperion board members will remain on the Hyperion board until the merger between the companies is completed.