Planning on some more financial planning
By Jo Best
Published: 21 July 2005 17:00 GMT
Business intelligence firm Business Objects has acquired SRC Software in a cash deal worth $100m.
The BI provider's acquisition of its former long-term tech partner will see it move into selling products focused on the financial sector, as well as gain SRC's 1,200 customers.
Business Objects' CEO Bernard Liautaud said the move, from which the company will gain additional capabilities in financial planning, budgeting and consolidations, was a "logical step in our evolution".
The deal is subject to regulatory approval and is expected to conclude before the end of the year.
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