Oracle buys Primavera
17 October 2008
Oracle says it will create an enterprise project portfolio management (PPM) solution for project intensive industries with the acquisition of Primavera Software. California, US based Oracle purchased the provider of PPM solutions and claims it will help companies allocate the best resources, reduce costs and meet delivery dates, using real time information.
PPM solution will be provided by Oracle following its acquisition of Primavera
Oracle Enterprise PPM will be tailored to project-intensive industries such as engineering and construction, aerospace and defence, utilities, oil and gas, manufacturing, and professional services.
‘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,’ said Oracle president Charles Phillips.
‘With 20 per cent 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 employees and management are expected to join Oracle to form a global business unit (GBU) focused on Enterprise PPM, and to help ensure a smooth transition for Primavera customers and partners. Primavera’s CEO Joel Koppelman is expected to lead the business unit as senior vice president and general manager.
Koppelman said: ‘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 transaction is subject to customary closing conditions and is expected to close in the second half of 2008. Until the deal closes, each company will continue to operate independently. Financial details of the transaction were not disclosed.
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