Enterprise Software - Wednesday, September 30, 2009
Oracle Buys Financial Reporting's Hyperroll
Oracle continues to take advantage of fire-sales. It is buying 'assets' of Mountain View, CA-based HyperRoll, which sells a financial reporting acceleration package. The software is used by large companies to aggregate data from different sources and close their books faster at the end of a financial quarter. No financial terms were disclosed.
This seems to have been the end of the line for Hyperroll as Oracle says it will only keep some employees. The company's R&D was done out of Israel.
HyperRoll has raised over $26M in VC funding between 2000 - 2004, from Bessemer Venture Partners, Denali Venture Capital, Greylock Partners, Lighthouse Capital Partners, Vertex Management and Sequoia Capital.
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