Oracle's intended purchase of Hyperion is a good fit for both companies. This merger should not provoke concern or downside risk for their respective customers, as was the early (but not necessarily consummated) concern when Oracle bought PeopleSoft and Siebel.
The new greater value for data -- in all it's forms -- is in what it can do for your business today, not that you can access data faster across more sources and interfaces. Data management and manipulation is, and will continue to be, about insight and advantage into business activities and markets in near real time. Data analysis needs to work across both internal and external processes.
So as the value abstraction from data access and analysis moves higher, coupling BI with performance management -- and even more business-oriented "intelligence" services -- will increase into an inter-related suite approach: the ultimate business dashboard.
Oracle and Hyperion both needed to move toward such a full-suite benefit, hence the strong fit together. There are sales and channel overlaps, but not significant product overlaps (OLAP products can be combined and then consolidated), which should lead to resource consolidation benefits for the companies. And the merger will bring the Oracle and Hyperion product lines added reach through their non-overlapping accounts and channels. One also has to wonder how well Hyperion's features and functions will mesh with (mash up?) Oracle's burgeoning variety of business applications.
This also augment's Oracle's move to heterogeneity and best-of-breed approaches, over a proprietary-stack -- "Oracle-only" -- strategy. The merger also places Oracle -- once again -- on a better footing against IBM, SAP, and Microsoft via acquisition. And this also follows HP's recent declared ramp-up to further developer and provide BI offerings and services.
Oracle continues a five-year acquisition journey, and has proven its ability not only to pick them well, but also to integrate and leverage its new children as well as any large software vendor.