Oracle Corp. (ORCL) agreed to acquire ClearTrial LLC, a provider of cloud-based software to biopharmaceutical and medical-device companies, as the technology giant continues its push toward software that runs online.
Financial terms weren't disclosed.
Oracle has been on a buying spree of late as it looks to tap the fast growth in sales of web-based software, commonly referred to as cloud computing.
The company agreed last month to acquire human-resources software maker Taleo Corp. (TLEO) for $1.9 billion and recently bought the customer-service software maker RightNow Technologies Inc. for $1.43 billion in cash.
Oracle last week reported its fiscal third-quarter profit rose 18% and revenue was up 3.1% as new licenses continued to offset weaker hardware revenue.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; email@example.com