Business Objects has closed the acquisition of privately-held Cartesis S.A., a leading provider of finance and performance management software. The company first announced its intent to acquire Cartesis in April. Customer and shareholder approvals, as well as all customary closing conditions have now been completed.
With the addition of the Cartesis solutions, Business Objects can now provide its customers with a complete set of enterprise performance management (EPM) applications, delivering a comprehensive and powerful suite to the marketplace. The portfolio includes planning and budgeting, profitability and analytics, financial reporting and consolidations, and governance, risk, and compliance solutions.
â€œThe close of this acquisition underscores our deep commitment to establishing the broadest, most open and integrated portfolio of performance management solutions in the industry,â€ said John Schwarz, CEO of Business Objects. â€œOur customers will benefit from the combination of the Business Objects and Cartesis functionality, enabling wide-ranging business insight and performance management for the CFO and CIO. I am delighted to welcome Cartesis to the Business Objects team.â€
The acquisition was an all-cash transaction of approximately â‚¬225M (approximately $300M). Cartesis will become a part of the Business Objects Enterprise Performance Management product line organization. Mark Doll, senior vice president and general manager of Global Services and EPM for Business Objects, and Didier Benchimol, CEO of Cartesis, will lead the integration.