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.”