Oracle acquires Primavera Software
Oracle Corporation, the world's largest enterprise software company, has agreed to acquire Primavera Software, a maker of project management software for an undisclosed amount.
Primavera's PPM software helps companies propose, prioritize and select project investments, and plan, manage and control the most complex projects and project portfolios.
Oracle, along with its applications and infrastructure software, expects to provide the first comprehensive enterprise project portfolio management solution that helps companies allocate the best resources, reduce costs, meet delivery dates and ultimately make better decisions, all by using real-time data.
According to sources, Primavera's employees and management are expected to join Oracle, and Chief Executive Joel Koppelman will lead the business unit as senior vice president and general manager.
However, the deal is subject to customary closing conditions and is expected to close by the end of the year.
