Oracle Corporation (Nasdaq: ORCL) has acquired project portfolio management (PPM) solutions developer Primavera Software Inc. for an undisclosed sum. Primavera has an R&D center in Jerusalem, which it acquired with the acquisition of ProSight Ltd. in 2006 for $45 million.
Primavera's PPM products and Oracles solutions will be combined to create a 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.
As a private company, Primavera does not provide full disclose of its activity. It has 550 employees, 76,000 customers, and is profitable. ProSight had 90 employees when Primavera acquired it in December 2006. ProSight develops portfolio management software for enterprise investment. The Primavera ProSight solution is now offered to Primavera customers.
With the Primavera acquisition, Oracle now has two Israeli development centers. The first was acquired as part of the acquisition of Demantra in May 2006 for $41 million. Primavera CEO Joel Koppelman will lead the business unit as Oracle SVP and general manager.
Oracle Israel was not available for comment.
Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008