Business Objects Acquires SRC SoftwareBusiness Objects, a provider of business intelligence solutions, said yesterday that it entered into a definitive agreement to acquire privately held SRC Software, a leading vendor of financial planning and performance management software.
The acquisition will be an all-cash transaction of about $100 million. It is subject to regulatory approvals and other customary closing conditions, and is expected to be completed in the third quarter of 2005. SRC Software offers integrated budgeting, planning, consolidations and reporting systems. The company has 1,200 customers worldwide.
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.