Oracle Buys Primavera

Date: 22nd October 2008

On October 8, 2008, Oracle announced it has entered into an agreement to acquire Primavera Software, Inc., a leading provider of Project Portfolio Management (PPM) solutions for project-intensive industries. 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.

Primavera's PPM products, together with Oracles's project financials, human resources, supply chain management, product lifecycle management, business intelligence, and infrastructure software are expected to provide the first, comprehensive Enterprise Project Portfolio Management solution. This solution is expected to help companies optimize resources and the supply chain, reduce costs, manage changes, meet delivery dates, and ultimately make better decisions, all by using real-time data.

The combination of Oracle and Primavera is expected to create the first, comprehensive Enterprise Project Portfolio Management solution for project intensive industries. click here to learn more