SAP acquires OutlookSoft

SAP is buying software firm OutlookSoft in an effort to increase its visibility with chief financial officers (CFOs).

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By  Administrator Published  May 10, 2007

SAP is buying software firm OutlookSoft in an effort to increase its visibility with chief financial officers (CFOs).

OutlookSoft provides planning, budgeting, forecasting and consolidation software; SAP said the deal fitted with its strategy of addressing the needs of the CFO.

"Across industry segments and global markets, CFOs are under tremendous pressure to improve business performance, predictability and stakeholder confidence," said Doug Merritt, head of business user development at SAP. "OutlookSoft brings the people, intellectual property and expertise that will enhance the SAP business user experience and add value for a strong cross-section of our customer base."

Although the terms of the deal were not disclosed, Reuters reported an estimated value of US$500million.

In March, Oracle acquired Hyperion for US$3.3 billion, claiming the deal meant SAP's CFO customers would use Hyperion software to analyse their SAP data.

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