Oracle acquires Primavera Software

by Editor 10/9/2008 3:44:00 PM
Oracle, the world's biggest enterprise software company, has agreed to acquire Primavera Software, a provider of Project Portfolio Management (PPM) solutions.

Primavera offers software that helps businesses propose, prioritize and select project investments, as well as plan, manage and control the most complex projects and project portfolios.

The deal will help Oracle accelerate its momentum in delivering mission-critical operational applications. The company hopes to offer the first comprehensive enterprise project portfolio management solution that helps enterprises allocate the best resources, cut costs, meet delivery dates and ultimately make better decisions by using real-time data.

Primavera management and employees will join Oracle in a new global business unit (GBU), with Primavera chief executive Joel Koppelman at the helm. The unit will focus on Enterprise PPM.

Oracle Enterprise PPM will be tailored to project-intensive industries such as engineering and construction, aerospace and defense, utilities, oil and gas, manufacturing, and professional services.

Oracle president Charles Phillips said: "Enterprise PPM is moving to the forefront of business strategy for industries managing complex and capital intensive projects, and has emerged as a global driver for value creation and business success. With 20% of the world's GDP spent annually on projects, the addition of Primavera is expected to extend Oracle's leadership position in the enterprise application space."

Primavera CEO Joel Koppelman added: "As a leader in PPM solutions with over 25 years experience helping customers succeed at managing projects, programs and portfolios, Primavera is a natural addition to accelerate Oracle's application strategy for project-intensive industries. We are excited to join Oracle as a new global business unit where we can ensure continuity and success for our current and prospective customers and partners."

The deal is expected to close by the end of the year.

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