Oracle has entered into an agreement to acquire Instantis,a cloud and on-premise project portfolio management company,to beef up its cloud services portfolio.The financial terms of the deal were not disclosed.
Combining the capabilities of both companies will give Oracle a comprehensive set of cloud-based and on-premise enterprise project portfolio management(PPM)services portfolio,database supplier Oracle has said.
Oracle's push into the enterprise project portfolio management field began in 2008 when it acquired Primavera Software.
Oracle combined its own portfolio management capabilities with Primavera to target project-intensive industries such as engineering and construction,aerospace and defence,and oil and gas.
"Organisations need a more simplified approach to address project portfolio management initiatives,and yet most solutions are too complicated and expensive to deploy,"said Mike Sicilia,senior vice-president and general manager of Oracle Primavera.
"By adding Instantis,Oracle can help customers gain complete visibility and control of their mission-critical project initiatives using a top-down approach suited for projects throughout the entire organisation,"he added.
The combined service will help customers manage,track and report on enterprise strategies,ranging from capital construction and maintenance to manufacturing and product development,according to Oracle.
In addition to shoring up its own cloud services portfolio,the deal will also give Oracle Instantis's enterprise customers roster,including Axis Capital,Verizon,Baxter,Credit Suisse,DuPont,National Grid and Xerox.
Instantis was also positioned in the"Leader"quadrant in Gartner's 2012 Magic quadrant for cloud-based project and portfolio management services.
The transaction is subject to customary closing conditions and approvals,and is expected to close before the end of the year.
Previously,in July,Oracle acquired network virtualisation specialist Xsigo to combine its server virtualisation offerings with Xsigo's networking capabilities to boost its cloud portfolio.
