Oracle Acquiring Financial Reporting Software Developer

Oracle is acquiring HyperRoll, a developer of data warehouse financial reporting software, in a move Oracle said will help it strengthen its performance management application product line.

Oracle said it is specifically acquiring "certain assets" of HyperRoll and expects to close the deal later this year, pending approval from government regulators. The financial details were not disclosed.

HyperRoll, based in Mountain View, Calif., develops software that businesses use to improve their financial reporting and analysis capabilities and provide detailed financial data to executives and line-of-business managers. Its software is used by businesses in retail, consumer goods and financial services industries.

Oracle said acquiring HyperRoll's technology would allow it to improve the reporting capabilities of its Oracle Enterprise Performance Management software.