Oracle to Acquire Project Management Vendor, Primavera

Oracle announced to acquire Project and Portfolio Management software company Primavera. Primavera’s PPM software helps companies propose, prioritize and select project investments, and plan, manage and control the most complex projects and project portfolios.

Oracle Enterprise PPM is going to be suitable for engineering and construction, aerospace and defense, utilities, oil and gas, manufacturing, and professional services where large and multiple projects are managed. Oracle is supposed to provide the first complete enterprise project portfolio management solution with this acquisition that helps companies allocate the best resources, reduce costs, meet delivery dates and ultimately make better decisions, all by using real-time data.

Primavera employees and management team are expected to join Oracle to form a global business unit (GBU) which will concentrate on Enterprise PPM. That will be a smooth transition for Primavera customers and partners. Primavera’s CEO Joel Koppelman is expected to lead the business unit as Senior Vice President and General Manager.

“Enterprise project portfolio management is moving to the forefront of business strategy for industries that are managing complex and capital intensive projects,” Oracle president Charles Phillips said in a statement announcing the acquisition.

Source: vunet

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