Business Objects to acquire Cartesis

Business Objects has entered into a definitive agreement to acquire privately held Cartesis, a provider of enterprise performance management (EPM) software with more than 1,300 customers worldwide.

Cartesis explains it provides financial reporting, consolidations and planning capabilities, as well as a new governance, risk and compliance portfolio. The acquisition will add important functionality to the Business Objects performance management platform. Under terms of the agreement, Business Objects will pay a total transaction value of $300 million in cash. The acquisition is expected to close within 90 days, subject to regulatory approval, Cartesis shareholder approval and other customary closing conditions.