Business Objects Closes Acquisition of SRC Software; Acquisition Adds Financial Planning, Budgeting and Consolidation Capabilities to Industry's Leading Business Intelligence Platform.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. & PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Business Objects (Nasdaq:BOBJ BOBJ Business Objects SA ) (Euronext Paris Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam and Brussels exchanges in September 2000 to form Euronext NV, which is the second largest exchange in Europe behind the London Stock Exchange. ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. code: FR0004026250 - BOB), the world's leading provider of business intelligence (BI) solutions, today announced it has closed the acquisition of SRC (SouRCe) Contrast with DST, which is an abbreviation of "destination." Software, a leading vendor of financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and performance management software. "The business intelligence market is evolving very quickly -- it is moving from tactical to strategic, from departmental to enterprise-wide, and is increasingly metrics and performance management driven. We believe that the SRC Software acquisition is consistent with our strategy to be the leading provider of business intelligence to the enterprise, as well as to develop a stronger and more strategic relationship with our customers," said Bernard Liautaud Bernard Liautaud is chairman and chief strategy officer of Business Objects. Liautaud cofounded Business Objects in 1990 and was chief executive officer until September 2005. , chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Business Objects. "We believe that the acquisition of SRC Software will enable Business Objects to become the only BI vendor that can offer customers the entire spectrum of BI capabilities. We anticipate that these broad BI capabilities will enable strategic performance management solutions that go beyond finance to include an entire organization, taking our customers to new levels of performance." The acquisition was an all cash transaction of approximately $100 million US for all outstanding shares of SRC Software, and will be accounted for under the purchase method of accounting. We expect the transaction to be accretive to Business Objects on both a US GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). and pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis beginning in the first quarter of 2006. By acquiring SRC Software, Business Objects obtains industry leading financial planning and performance management products, which offer integrated budgeting, planning, forecasting, consolidations, productivity measurement, and reporting systems. Today more than 1,200 customers worldwide use these products to improve overall performance. Prior to the acquisition, SRC Software was a Business Objects technology partner, offering industry leading solutions for strategic planning, forecasting, capital planning, budgeting, sales and compensation planning, and consolidations. As a result of this partnership, the SRC Software performance management products are already integrated with BusinessObjects(TM) XI, allowing extreme insight for all departments and functional areas on the industry's most trusted platform. Additionally, as a result of this product integration, users can seamlessly integrate with Microsoft Office in order to unlock the power of business intelligence and planning information to drive new levels of performance. Tom Malone, former CEO of SRC Software, has been named the group vice president and general manager of the Business Objects planning business unit, reporting to Bernard Liautaud, chairman and CEO of Business Objects. Forward-Looking Statements This document contains forward-looking statements that involve risks and uncertainties concerning Business Objects, including the company's strategy, the company's expectations regarding its acquisition of SRC Software, and the company's post-acquisition integration plans. Actual events or results may differ materially from those described in this document due to a number of risks and uncertainties. These potential risks and uncertainties include, among others, fluctuations in the company's quarterly operating results; the company's ability to sustain or increase its profitability; the company's ability to attract and retain customers for BusinessObjects XI; the company's ability to issue new releases of BusinessObjects XI on other platforms; changes to current accounting policies which may have a significant, adverse impact upon the company's financial results; risks related to the company's purchase and integration of SRC Software, Inc.; the introduction of new products by competitors or the entry of new competitors into the markets for Business Objects' products; the impact of the pricing of competing technologies; the company's ability to preserve its key strategic relationships; the company's reliance upon selling products only in the Business Intelligence software market; and economic and political conditions in the US and abroad. More information about potential factors that could affect Business Objects' business and financial results is included in Business Objects' Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2004 and Business Objects' Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2005, each of which are on file with the SEC and available at the SEC's website at www.sec.gov. Business Objects is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date of this document. About Business Objects Business Objects is the world's leading business intelligence (BI) software company. With more than 30,000 customers worldwide, including over 80 percent of the Fortune 500, Business Objects helps organizations gain better insight into their business, improve decision making, and optimize enterprise performance. The company's business intelligence platform, BusinessObjects(TM) XI, offers the BI industry's most complete and trusted platform for performance management, planning, reporting, query and analysis, and data integration. BusinessObjects XI includes Crystal Reports(R), the industry standard for enterprise reporting. Business Objects has also built the industry's strongest and most diverse partner community, and the company offers consulting and education services to help customers effectively deploy their business intelligence projects. Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company's stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com. Business Objects and the Business Objects logo, BusinessObjects, WebIntelligence, Crystal Reports, Crystal Enterprise, Crystal Analysis, RapidMarts, and BusinessQuery are trademarks or registered trademarks of Business Objects S.A. or its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. in the United States and/or other countries. All other names mentioned herein may be trademarks of their respective owners. |
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