SAP acquires OutlookSoft for corporate performance management

SAP doesn't go after the big fish like its rival Oracle, but it occasionally picks up a relatively smaller strategic acquisition. OutlookSoft will give SAP another entry point, beyond its core ERP software, into the CFO office with corporate performance management solution, covering planning, budgeting, forecasting and consolidation.

OutlookSoft is built on an SOA platform and will be integrated into the SAP NetWeaver platform. OutlookSoft has a base of 700 customers, including 150 jointly held with SAP, said Phil Wilmington, CEO of OutlookSoft.

OutlookSoft competitors include Hyperion (which Oracle is acquiring) and Cognos, but SAP expects that having ERP, as well as governance, risk and compliance assets, will be appealing to CFOs. Last year SAP acquired Versa to build out its governance, risk and compliance capabilities.

SAP did not disclose terms of the acquisition and the deal will close in the next 30 days, said Sanjay Poonen, senior vice president and general manager of analytics at SAP.