Bolstering its strategy to provide mission-critical operational applications for key industries, this week Oracle announced its intention to acquire Primavera Software. Primavera is a leading provider of project management applications and services.
Primavera’s software is intended to help companies propose, prioritize and select project investments, and plan, manage and control complex projects and project portfolios. According to a joint presentation, the vendor has 5,000 global customers, 18,000 medium sized customers and 2.5 million users around the world. It claims a substantial presence in industries such as engineering and construction, power, oil, aerospace and defense, federal agencies, and all military branches. The firm has 123 resellers.
In a statement, Oracle said with Primavera’s offerings it expects to provide “the first comprehensive enterprise project portfolio management (PPM) solution that helps companies allocate the best resources, reduce costs, meet delivery dates and ultimately make better decisions, all by using real-time data.” The acquisition, according to the company, will integrate scheduling and industry-specific PPM processes with Oracle’s suite of enterprise-grade applications, including financial, inventory and resource management.
“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 Oracles application strategy for project-intensive industries,” said Primavera CEO Joel Koppelman. “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.”
Primavera employees and management are expected to join Oracle to form a global business unit (GBU) focused on enterprise project portfolio management and to help ensure a smooth transition for Primavera customers and partners. Koppelman is expected to lead the business unit as Senior Vice President and General Manager.
Financial details of the planned acquisition weren’t disclosed. The transaction is expected to close before the end of 2008.