Financial reporting software maker HyperRoll sells off assets to Oracle
HyperRoll, developer of software for data aggregation and financial reporting, says it will sell off its intellectual and technology assets to Oracle. Based in Mountain View, HyperRoll was backed by Sequoia Capital and Greylock Partners. The deal continues Redwood Shores-based Oracle’s strategy of acquiring smaller companies to expand its own software offerings, particularly its Enterprise Performance Management portfolio.
Previously, HyperRoll provided software to help large companies tally up their finances at the end of each quarter to clients like IBM, Miscrosoft and of course Oracle. Only some of HyperRoll’s employees will be retained by Oracle after the deal closes this year, the company says. No financial terms have been disclosed.
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