[July 25, 2003]
Hyperion To Acquire Brio Software
Hyperion has signed a definitive
agreement to acquire Brio Software. By
adding Brio’s easy-to-use query and reporting capabilities to the Hyperion
platform, the acquisition will extend Hyperion’s leadership as a worldwide
provider of Business performance management software.
Under the terms of the agreement, Brio shareholders will receive a
combination of 0.109 of a share of Hyperion common stock and $0.363 for
each share of Brio common stock. Brio shareholders will own approximately
10.5 percent of Hyperion after the completion of the transaction. The
transaction has been approved by the boards of directors of both companies
and is subject to customary closing conditions, including the approval of
Brio’s stockholders and regulatory approvals. It is expected to close in
the fourth calendar quarter.
“The planned acquisition of Brio will advance our strategy of being the
essential resource for companies committed to breakthrough performance
everywhere,” said Jeff Rodek, chairman and CEO of Hyperion. “With Brio, we
will gain one of the most innovative and pioneering companies in business
intelligence, and our customers will gain integrated query, reporting and
analysis tools that are renowned for their ease-of-use, quick deployment,
scalability and remarkable power.”
“Brio has been a technology partner since 1996,” said Rodek. “We have seen
first-hand the steady progress they have made with their products. With
Brio, we will be able to deliver a complete solution for Business
Performance Management that unites strategic and day-to-day decision
making to achieve performance accountability across all business functions
and at all levels from the boardroom to the front lines. We believe this
transaction will be a significant win for stockholders, customers,
partners, and employees as we advance the power and reach of our Business
Performance Management solutions into every department -- and to tens of
thousands of users -- throughout the enterprise.”
“Brio and Hyperion share a passion for helping customers achieve
breakthrough business performance,” said Craig Brennan, president and CEO
of Brio. “This combination creates the greatest on-going value for Brio
customers, by ensuring continued enhancement, support, and, ultimately,
integration of Brio’s products into the industry’s leading Business
Performance Management platform. We are thrilled at the prospect of
becoming part of the Hyperion team and expect that our shared vision will
benefit both existing and new customers.”
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