Oracle To Buy A Leading Project Management Supplier
The acquisition of Primavera Software will give Oracle the opportunity to bundle project management with its existing enterprise portfolio.
Oracle announced it is acquiring one of the premier project management software suppliers, Primavera Software of Bala Cynwyd, Pa. No price was set on the deal, expected to close later this year.
Primavera moved beyond single project management into the larger field of project portfolio management, where multiple projects are tracked and managed as related ventures at the same time. Its flagship products are Primavera P6 for project management and Primavera ProSight for portfolio management.
Oracle spokesmen said Oracle was making the acquisition to tailor project management toward such industries as engineering, construction, aerospace, defense, utilities, oil and gas, manufacturing, and professional services.
"Enterprise project portfolio management is moving to the forefront of business strategy for industries that are managing complex and capital intensive projects," Oracle president Charles Phillips said in a statement announcing the acquisition.
Primavera CEO Joel Koppelman said Primavera will become a global business unit of Oracle, continuing to function as a developer of project management software products.
Many Oracle application customers are found in project-intensive industries, giving Oracle a chance to sell them project management as well as CRM, human resources, financial applications, business intelligence, and databases. Oracle combines such products into an enterprise license agreement that returns substantial annual maintenance revenue.
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