Oracle To Buy Cloud-Based Software Maker ClearTrial

Date : 03/29/2012 @ 10:25AM
Source : Dow Jones News
Stock : Oracle Corp. (ORCL)
Quote : 50.71  0.13 (0.26%) @ 6:40PM

Oracle To Buy Cloud-Based Software Maker ClearTrial

Oracle Corp. (NYSE:ORCL)
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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; 

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