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Oracle to acquire Hyperion Solutions for $3.3 billion

Oracle announced today that it will acquire Hyperion Solutions to bolster the company's business intelligence capabilities.

Hyperion is a performance management software provider that sells business data analysis and financial planning products.

Oracle would not reveal the cost of the acquisition, but analysts believe it could be in the region of $3.3 billion.

The deal, set to close in April, will extend the organization’s business intelligence product strategy, according to an Oracle statement.

Hyperion provides software to more than 12,000 customers worldwide and works with 91 percent of the Fortune 100, according to the software company.

Last year, Oracle bought the management software maker, Siebel Systems, for $5.8 billion. It purchased PeopleSoft for $9.7 billion in 2005.

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