Business Objects plans to acquire privately held SRC Software for about $100 million in cash, a move that fills out the company's product line and ratchets up the competition with Cognos and Hyperion. Business Objects on Wednesday said it will integrate SRC Software's financial planning and budgeting applications into its data analysis packages.
The planned acquisition is meant to give Business Objects a better product offering forsoftware--tools that allow companies to build so-called dashboards that present a snapshot of an ongoing process, such as the progress of a marketing campaign. "Organizations are looking to the CFO for more than financial gatekeeping and compliance, they want a strategic partner that can help them optimize business operations and plan for the future," Bernard Liautaud, chairman and CEO of Business Objects, said in a statement. Competitors Cognos and Hyperion already have dashboard and financial planning programs that accompany their business intelligence tools.