Oracle Agrees To Acquire Skire

Date : 07/19/2012 @ 9:18AM
Source : Dow Jones News
Stock : Oracle Corp. (ORCL)
Quote : 44.96  0.19 (0.42%) @ 4:01PM

Oracle Agrees To Acquire Skire

Oracle Corp. (NYSE:ORCL)
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     By Tess Stynes 
 

Oracle Corp. (ORCL) agreed to acquire privately held Skire, a provider of capital program management and facilities management applications.

The company said that it plans to combine Skire with its Primavera products to create a project management platform that provides a comprehensive offering of capital planning, construction and operations applications. Further terms of the acquisition weren't disclosed.

Skire offers both cloud-based and on-premise-based applications.

The deal is the latest acquisition for Oracle of companies with cloud-based technologies and comes as more companies are seeking such services.

Oracle last month reported that its fiscal fourth-quarter earnings rose 7.5% as software revenue improved and despite a drop in services and hardware-systems revenue.

Shares rose 0.3% to $30.60 in recent premarket trading. The stock is up about 19% this year.

Write to Tess Stynes at Tess.Stynes@dowjones.com

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