Oracle to buy Hyperion for $3.3 billion |
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Published
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Thu, 01 Mar 2007 13:47
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REDWOOD SHORES, Calif. (AP) - Database and software maker Oracle Corp. said Thursday it agreed to buy Hyperion Solutions Corp. for $52 per share, or $3.3 billion.The purchase price represents a 21 percent premium to Hyperion's Wednesday closing price of $42.84 on the Nasdaq Stock Market, where the stock has traded between $26.65 and $45.18 over the past year.Santa Clara, Calif.-based Hyperion makes business performance management software, or applications that can be used to collect, organize and analyze data from transaction systems.Oracle, which has spent billions of dollars in recent years on both small and large acquisitions including Siebel Systems and PeopleSoft, said it expects the acquisition to grow earnings by at least a penny per share in 2008, and by at least 4 cents per share in 2009.The deal is expected to close in April.Oracle President Charles Phillips said the purchase should help Oracle expand its reach to include customers from competitor SAP AG.'Thousands of SAP customers rely on Hyperion as their financial consolidation, analysis and reporting system of record,' Phillips said in a prepared statement.Oracle shares closed Wednesday at $16.43 on the Nasdaq Stock Market, where they have ranged form $12.49 to $19.75 over the past 52 weeks.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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