In an effort to be more competitive with cloud-computing companies like Salesforce.com (NYSE:CRM) and SAP (NYSE:SAP), Oracle (NASDAQ:ORCL) announced its purchase of the privately held developer Instantis for an undisclosed amount on Thursday.
Instantis sells cloud-based project portfolio management software, which aids clients like Abbott Laboratories (NYSE:ABT) and Credit Suisse (NYSE:CS) track progress on projects and manage multiple corporate initiatives. The acquisition will give Oracle a more comprehensive set of project management solutions than it has currently. When the deal closes, the company will be incorporated into Oracle’s Primavera software division. The company acquired Primavera in 2008 to better serve its customers in project-intensive industries such as engineering, aerospace and defense, and manufacturing.
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“Organizations realize the need for a more simplified approach to address project portfolio management initiatives — and yet most solutions are too complicated and expensive to deploy,” said Mike Sicilia, Oracle Primavera’s senior vice president and general manager, in a press release.
Oracle is a technology company that specializes in enterprise software products meant for business or government use, including database management systems. With that particular focus, acquiring small developers of cloud-based project management solutions enables Oracle to speed up its delivery method to clients. While the company’s Chief Executive Larry Ellison once dismissed the delivery method as over-hyped, it has allowed the company to make more than 100 applications available through the cloud.
“Oracle’s acquisition of Instantis represents a strong endorsement of the EnterpriseTrack cloud-based technology and the value customers have achieved with our solutions,” said Prasad Raje, the Chief Executive and founder of Instantis.