Business Objects, a provider of business intelligence solutions, has entered into a definitive agreement to acquire privately held Cartesis S.A., a specialist in enterprise performance management software with more than 1,300 customers worldwide. Cartesis provides financial reporting, consolidations, and planning capabilities as well as a new governance, risk, and compliance portfolio.
The acquisition will add functionality to the Business Objects performance management platform--from analytics to profitability to consolidations. Under terms of the agreement, Business Objects will pay a total transaction value of $300 million in cash. The acquisition is expected to close within 90 days, subject to regulatory approval, Cartesis shareholder approval, and other customary closing conditions.
"This acquisition marks an important step in our strategy of systematically building out the industry's best performance management platform," says John Schwarz, CEO of Business Objects. "The acquisition of Cartesis will allow us to extend our comprehensive solutions for the office of the CFO by providing critical cross-application and cross-database line of sight to financial and management reporting, including consolidated statements and budgeting."
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