Business Objects, a world leading provider of business intelligence (BI) solutions,  announced it has closed the acquisition of SRC Software, a leading vendor of financial planning 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 performanc-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, chairman and CEO 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."

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