Business Objects, a world-leading provider of business intelligence (BI) solutions, announced that it has entered into a definitive agreement to acquire privately held Cartesis S.A. Cartesis is a leading specialist in enterprise performance management (EPM) software with more than 1,300 customers worldwide. Cartesis provides financial reporting, consolidations, and planning capabilities, as well as a new governance, risk, and compliance portfolio. The acquisition will add important functionality to the Business Objects performance management platform, resulting in the market's broadest offering to the office of the chief financial officer - from analytics to profitability to consolidations, all supported by the industry's leading business intelligence infrastructure.

Under terms of the agreement, Business Objects will pay a total transaction value of €225 million (approximately $300 million) in cash. The acquisition is expected to close within 90 days, subject to regulatory approval, Cartesis shareholder approval and other customary closing conditions. Due to purchase accounting adjustments, the transaction is expected to be neutral to slightly accretive to earnings for the first year post closing and accretive thereafter, as revenue synergies and economies of scale are realized.

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