Enterprise application provider Oracle today announced plans to acquire performance management/business intelligence specialist Hyperion in a cash-tender offer valued at $3.3 billion. The deal, expected to close in April, is subject to regulatory approval.

At a news conference in Santa Clara, CA, Hyperion CEO Godfrey Sullivan told reporters that areas of performance management and business intelligence are converging and that the deal would " deliver the first, integrated end-to-end Enterprise Performance Management System."

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