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SAP AG today announced its intention to acquire OutlookSoft Corporation, a privately held provider of integrated planning, budgeting, forecasting and consolidation software. The acquisition is expected to be completed in June 2007, pending approval from the respective antitrust authorities. Terms of the acquisition were not disclosed.

The prospective buyout is part of the SAP multi-year plan to “holistically address the increasingly sophisticated requirements of the CFO around driving business performance, managing risk, ensuring compliance and spearheading financial transformation in their organizations.” SAP NetWeaver Business Intelligence will provide the robust BI infrastructure powering the OutlookSoft 5 application.

Seeking to address performance management, OutlookSoft was founded in 1999 to deliver solutions for the CFO (“Solutions for the CFO” – not a bad tagline…) in leveraging Web 2.0 technologies. OutlookSoft recorded revenue growth of 25 percent in 2006 and today 700 customers use OutlookSoft. Headquartered in Stamford, Conn., OutlookSoft employs approximately 250 people and has offices in the United States, United Kingdom, France, Switzerland and Italy.