Oracle Buys Primavera

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Oracle Buys Primavera
(October 8, 2008)

Deal will combine each company's project portfolio management offerings under one Enterprise PPM unit.

Oracle has agreed to acquire Primavera Software, one of the leading providers of project portfolio management (PPM) solutions. Oracle will pair Primavera with its own portfolio management capabilities under one global business unit called Oracle Enterprise PPM, which will target project-intensive industries such as engineering and construction, aerospace and defense, utilities, oil and gas, manufacturing and professional services.

"Enterprise PPM is moving to the forefront of business strategy for industries managing complex and capital intensive projects, and has emerged as a global driver for value creation and business success," said Oracle President Charles Phillips. "With 20 percent of the world's GDP spent annually on projects, the addition of Primavera is expected to extend Oracle's leadership position in the enterprise application space."

Primavera employees and management are expected to join the Oracle Enterprise PPM unit, including Primavera cofounder and CEO Joel Koppelman, who is expected to lead the business unit as senior vice president and general manager.

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