Hyperion (NASDAQ:HYSL)
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Hyperion (Nasdaq Global Select:HYSL), a leading global provider of
performance management software solutions today announced that it has
agreed to be acquired by Oracle Corporation through a cash tender offer
for $52.00 per share, or approximately $3.3 billion.
“Requirements for Performance Management and
Business Intelligence solutions are increasingly converging,”
said Hyperion Chief Executive Officer Godfrey Sullivan. “Given
the critical need for managers across the enterprise to align
operational decisions with strategy, now is the right time for Hyperion
to combine with a strategic partner like Oracle to deliver the first,
integrated end-to-end Enterprise Performance Management System.”
“The acquisition of Hyperion makes Oracle the
category leader in the high growth enterprise performance management
market,” said Oracle CEO Larry Ellison. “Hyperion’s
EPM software coupled with Oracle’s Business
Intelligence (BI) tools and analytic applications form an end-to-end
performance management system that includes planning, budgeting,
consolidation, operational analytics and compliance reporting.”
“Hyperion is the latest move to expand
Oracle's offerings to SAP customers,” said
Oracle President Charles Phillips. “Thousands
of SAP customers rely on Hyperion as their financial consolidation,
analysis and reporting system of record. Oracle already has PeopleSoft
HR, Siebel CRM, G-Log, Demantra, i-flex, Oracle Retail, and Oracle
Fusion Middleware installed at SAP’s largest
ERP customers. Now Oracle’s Hyperion software
will be the lens through which SAP’s most
important customers view and analyze their underlying SAP ERP data.”
“We expect this transaction to be accretive
to Oracle’s earnings on a non-GAAP basis by
at least one cent per share in fiscal year 2008 and by at least four
cents per share in fiscal 2009,” said Oracle
President and CFO, Safra Catz. “Given the
size of our global organization and the complementary nature of our
businesses, we should recognize substantial revenue synergies and
significant economies of scale.”
The transaction is subject to customary conditions, including regulatory
approvals, and is expected to close in April 2007. More information is
available at http://www.hyperion.com/oracle.
Oracle will host a conference call today, Thursday, March 1, at 5:30
a.m. (PST) / 8:30 a.m. (EST) to discuss the acquisition. A live audio
webcast of the call will be made available on the Hyperion Investor
Relations website at http://ir.hyperion.com.
Interested parties may participate live via telephone by calling
+1.913.312.1303 (no passcode needed). The webcast will be available for
replay for seven days following the conference call. The replay number
is (719) 457-0820, passcode 1946731.
About Hyperion
Hyperion
Solutions Corporation (Nasdaq Global Select:HYSL) is the global
leader in Business
Performance Management software. More than 12,000 customers in 90
countries rely on Hyperion both for insight into current business
performance and to drive performance improvement. With Hyperion
software, businesses collect, analyze and share data across the
organization, linking strategies to plans and monitoring execution
against goals. Hyperion integrates financial
management applications with a business
intelligence platform into a single management
system for the global enterprise. For more information, contact
us at http://www.hyperion.com/company/contact/salesrep.cfm?CMP=PR_US.
“Hyperion” and
Hyperion’s product names are trademarks of
Hyperion. References to other companies and their products use
trademarks owned by the respective companies and are for reference
purpose only.
Important Information
THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO
BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SECURITIES. THE
SOLICITATION AND THE OFFER TO BUY SHARES OF HYPERION’S
COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND
RELATED MATERIALS THAT ORACLE INTENDS TO FILE WITH THE SECURITIES AND
EXCHANGE COMMISSION. HYPERION WILL FILE A SOLICITATION/RECOMMENDATION
STATEMENT WITH RESPECT TO THE OFFER. ONCE FILED, HYPERION STOCKHOLDERS
SHOULD READ THESE MATERIALS CAREFULLY PRIOR TO MAKING ANY DECISIONS WITH
RESPECT TO THE OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION,
INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. ONCE FILED, HYPERION
STOCKHOLDERS WILL BE ABLE TO OBTAIN THE OFFER TO PURCHASE, THE
SOLICITATION/RECOMMENDATION STATEMENT AND RELATED MATERIALS WITH RESPECT
TO THE OFFER FREE OF CHARGE AT THE SEC'S WEBSITE AT WWW.SEC.GOV,
FROM THE INFORMATION AGENT NAMED IN THE TENDER OFFER MATERIALS OR FROM
ORACLE.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle
and Hyperion. When used in this document, the words “anticipates”,
“may”, “can”,
“believes”, “expects”,
“projects”, “intends”,
“likely”, similar
expressions and any other statements that are not historical facts, in
each case as they relate to Oracle and Hyperion, the management of
either such company or the transaction are intended to identify those
assertions as forward-looking statements. In making any such statements,
the person making them believes that its expectations are based on
reasonable assumptions. However, any such statement may be influenced by
factors that could cause actual outcomes and results to be materially
different from those projected or anticipated. These forward-looking
statements are subject to numerous risks and uncertainties. There are
various important factors that could cause actual results to differ
materially from those in any such forward-looking statements, many of
which are beyond the control of Oracle and Hyperion, including: the
successful consummation of the proposed transaction, the impact of
general economic conditions in regions in which either such company
currently does business, industry conditions, including competition,
fluctuations in exchange rates and currency values, capital expenditure
requirements, legislative or regulatory requirements, changes in the tax
laws, interest rates and access to capital markets. The actual results
or performance by Oracle or Hyperion could differ materially from those
expressed in, or implied by, these forward-looking statements.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur,
or if any of them do so, what impact they will have on the results of
operations or financial condition of Oracle or Hyperion. Neither Oracle
nor Hyperion assumes an obligation to update or revise any such
statements, whether as a result of new information or otherwise.