New York, Mar 1:  Oracle Corp., the world's top database software maker, is near an agreem

New York, Mar 1: Oracle Corp., the world's top database software maker, is near an agreement to buy Hyperion Solutions Corp., which makes software that lets companies analyze and track their performance, for about $3 billion, The New York Times said on Wednesday in its online edition.

The transaction is expected to be announced as soon as Thursday, and terms were not immediately available, the newspaper said citing unnamed people briefed on the transaction.

Oracle and Hyperion did not immediately return calls seeking comment. Oracle is based in Redwood City, California, and Hyperion in Santa Clara, California.

Hyperion shares closed on Wednesday at $42.84, giving the company a market value of about $2.53 billion based on reported shares outstanding. Oracle shares closed at $16.43. Both companies' shares trade on the Nasdaq.

In December, Oracle posted a 21 percent increase in fiscal second-quarter profit to $967 million, or 18 cents per share, but sales of new software application licenses were weaker than Wall Street expected.

Chief Executive Larry Ellison said the shortfall was due to an inability to close transactions, rather than any broader slowdown in technology spending.

Ellison has been pursuing an aggressive acquisition strategy.

Oracle has spent about $20 billion on acquisitions in the last three years, acquiring rivals such as PeopleSoft and Siebel Systems, to expand in business applications.

Reuters