Hyperion Buys ISV UpStream
Based in Rochester, Mich., UpStream has been a preferred partner of Hyperion's since 2002. It offers an integration adapter to deliver its data to Hyperion's line of analytics and business process management applications.
Hyperion, which has headquarters in Santa Clara, Calif., said the deal will extend its line with a packaged solution for financial data quality management, a growing market as changes like the Sarbanes-Oxley Act and increasing regulatory scrutiny heighten organizations' compliance burdens. Hyperion and UpSteam already have an assortment of joint customers, including Honeywell, Primedia, Unisys, Fifth Third Bank and ITT Industries.
Hyperion announced its UpStream buy concurrently with releasing its third-quarter earnings and disclosing the resignation of its head of worldwide field operations, Senior Vice President Burton Goldfield. Goldfield is leaving for the CEO role at Ketera Technologies, an on-demand spending and procurement management company located in Santa Clara, Calif. While Hyperion searches for a successor, company CEO Godfrey Sullivan will take on Goldfield's duties.
Hyperion's revenue for its third quarter, ended March 31, rose 5 percent to $185.6 million, although software license sales fell slightly, from $68.7 million last year to $64.4 million this year.
Net income for the quarter was $16 million, down from $18.8 million last year. Excluding amortization, restructuring and stock-option compensation costs, Hyperion reported a 2 percent earnings increase from last year's third quarter, to $22.8 million.