Business Objects, the world's leading provider of business intelligence (BI) solutions, announced that it has entered into a definitive agreement to acquire privately held SRC Software, a leading vendor of financial planning and performance management software.
The acquisition will be an all-cash transaction of approximately $100 million and will be accounted for under the purchase method of accounting. The transaction is expected to be accretive to Business Objects earning on both a U.S. GAAP and pro forma basis beginning in the first quarter of 2006. The acquisition is subject to regulatory approvals and other customary closing conditions, and is expected to be completed in the third quarter of 2005.
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