Business performance management software firm Hyperion
Solutions is to buy privately owned UpStream Software.
UpStream makes a data readiness and guided workflow application
used to track the movement of financial information. The
acquisition will allow Hyperion to deliver a packaged solution for
financial data quality management.
Hyperion chief executive Godfrey Sullivan said, “Adding
financial data quality management is a logical extension to the
value Hyperion provides its customers. By offering UpStream
technology as part of our BPM system, we roll out a proven
solution.”
Upstream co-founder and chief executive Tom Shea said, “We entered
this market because we saw the perfect storm of compliance
requirements, financial system complexity and increasingly dynamic
global market conditions creating a need for a robust financial
data quality solution.
"As part of Hyperion’s business performance management system,
this solution will provide value to a far greater number of global
businesses.”