Hyperion to acquire data-quality vendor UpStream Software

The deal is aimed at helping companies with regulatory compliance

Hyperion Solutions Corp. today announced plans to acquire UpStream Software Corp., a Rochester, Mich.-based provider of financial data-quality technology.

Santa Clara, Calif.-based Hyperion plans to offer UpStream’s tools as part of its business performance management suite to help enterprises ensure that data required for compliance with the Sarbanes-Oxley Act and other regulations is accurate, according to Hyperion officials. Terms of the deal, which is expected to close in two weeks, were not disclosed.

While many other data-quality vendors focus on cleansing customer and product data for marketing campaigns, UpStream’s tools focus exclusively on ensuring the accuracy of financial data, said Rich Clayton, Hyperion’s vice president of product marketing. “Financial data quality has a similar process, but has a very different set of business requirements -- things like a repository for a [Sarbanes-Oxley] audit, the ability to monitor your internal audit controls and the ability to go from your source system to what you report to Wall Street,” Clayton said.

Hyperion will begin marketing the UpStream products – which include a guided Web-based workflow interface, data preparation server and predefined adapters for Hyperion applications – within two weeks, Clayton said. The tools are designed to eliminate the multiple points of failure between the submission of data from local business units to the consolidation of that information globally so organizations can avoid restating financial results.

UpStream will continue to operate from Rochester, and Hyperion plans to keep all of its employees, according to Clayton. Duplicate sales offices may be consolidated, however.

Copyright © 2006 IDG Communications, Inc.

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