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Oracle has announced it is acquiring the assets of HyperRoll, a financial reporting acceleration software firm.
No price was disclosed for the privately held, Mountain View, Calif., company. The deal is expected to close by the end of the year.
HyperRoll's Data Performance Management Suite speeds up the reporting of financial results. It can draw data out of all major databases, including Oracle, IBM's DB2, Microsoft's SQL Server, Teradata, and Sybase. It produces specific products that pull data from business intelligence systems Business Objects, MicroStrategy, Cognos, and other OLAP systems. These products can help tighten the close cycle in calculating financial results and improve visibility of financial data to line-of-business managers.
In announcing the acquisition, Robert Gersten, Oracle's senior VP for product development, said it would be used to strengthen Oracle's Enterprise Performance Management software to both speed reporting and improve compliance.
HyperRoll products can also be used by data warehouse managers. They can help overcome poor query performance, simplify query and schema development, and minimize the need for data warehouse turning, Gersten said. Warehouse managers can use it to speed up responding to report requests.
HyperRoll has acquired customers in the retail, financial services, and consumer goods sectors, Gersten said. Its products can shorten data warehouse loading times and speed up query executions by a factor of 10, according to information on the HyperRoll Web site.
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