Oracle gobbles up Primavera

Software behemoth snaps up product portfolio management firm to form new business unit

Database colossus Oracle has bolstered its product portfolio management (PPM) offering after snapping up specialist developer Primavera Software.

Primavera produces products specialised across an array of vertical markets including the public sector, financial services and manufacturing. The company has been in business for 25 years and is headquartered in Pennsylvania with satellite offices across the US, as well as in London and Jerusalem.

The firm's 550 employees are expected to join Oracle as part of the formation of a new worldwide business unit focused on PPM. Primavera chief executive Joel Koppelman is likely to lead the unit in a new role of senior vice president and general manager. The deal, financial details of which were not disclosed, is expected to close before the end of the year.

Oracle president Charles Phillips said: "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. With 20 per cent 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.”
Koppelman added: “As a leader in PPM solutions with over 25 years experience helping customers succeed at managing projects, programs and portfolios, Primavera is a natural addition to accelerate Oracle’s application strategy for project-intensive industries. We are excited to join Oracle as a new global business unit where we can ensure continuity and success for our current and prospective customers and partners.”