Hyperion, a global leader in business performance management software, announced today a definitive agreement to acquire certain assets of QIQ Solutions Pty Limited, a software solutions provider based in Sydney, Australia. The acquisition of privately held QIQ Solutions will help Hyperion extend its lead in business performance management by providing customers with easier development, deployment and management of Hyperion Performance Suite dashboards.
Founded in 1999, QIQ Solutions markets several products that allow business users to build interactive dashboards through a "point and click" wizard-driven interface in the time it typically takes to build reports. Through customizable templates, the products enhance dashboard consistency and user experience across the enterprise and reduce customers' total cost of ownership.
Terms of the transaction, which is expected to close July 31, 2004, were not disclosed. Hyperion expects the impact on revenue and earnings will not be material.
"This acquisition is consistent with our investment priorities and product strategy, which includes helping customers deploy personalized, easy-to-use dashboards to more users across the enterprise," said Godfrey Sullivan, Hyperion president and chief executive officer. "QIQ Solutions' tools supplement our Business Intelligence Platform by enabling customers to deploy more dashboards faster and to better manage larger enterprise-wide Hyperion Performance Suite implementations."
QIQ Solutions currently has approximately 200 customers worldwide using its products, who will continue to be supported by Hyperion. The company's products are already integrated with Hyperion Performance Suite through its previous partnership with Brio, the business intelligence software provider acquired last year by Hyperion. The new capabilities will be available to customers from Hyperion this quarter.
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