Oracle reported last week that it had acquired HyperRoll, a company that has developed algorithms that produce analytical summaries from databases, which are known as financial reporting acceleration solutions.
These acceleration solutions are software that enable an enterprise to gather data for financial reporting faster and thus produce financial statements in a shorter time.
According to Israel’s leading financial daily Globes, Oracle did not disclose financial details of the transaction, which is expected to be finalized in the next few months.
HyperRoll, a business intelligence company, was founded in 2000. Its corporate headquarters are in Mountain View, California, and its development center is in Omer in southern Israel.
According to Israel Venture Capital, some $42 million have been invested in the company, the main shareholders being Greylock Greylock Partners, Sequoia Capital, and Bessemer Venture Partners.