Business Objects , the owner of Crystal Reports, has pulled off the surprise acquisition of rival Cartesis for €225m (£153.3m).
'The combination of Business Objects and Cartesis will deliver the industry's broadest offering to the office of the chief financial officer,' Business Objects said in a statement.
The deal is the latest in a series of transactions in the business software sector, which has seen Oracle make an offer for Hyperion and Infor snap up SunSystems.
The new structure will see Cartesis chief executive Didier Benchimol working on building Cartesis into the Business Objects portfolio with Business Objects vice president Mark Doll.
Further reading:
Wave of consolidation surges through business software sector
