Oracle has agreed to a deal which will see the company purchase project management specialist Skire.
The company said that under the deal, it will acquire "substantially all" of Skire's assets, including its on-premise and cloud service offerings.
Based out of Silicon Valley, Skire develops tools which allow enterprises, contractors and sub-contractors to manage the progress and status of various business projects. Terms of the deal were not disclosed.
Oracle is planning to integrate the Skire platforms into its Primavera product line. The company said that the combined effort will allow it to offer a complete enterprise project portfolio management (EPPM) package which will cover the full lifecycle of projects.
"Project-intensive enterprises are facing intense pressure to deliver projects on time and on budget," said Oracle Primavera senior vice president and general manager Mike Sicilia.
"Adding Skire to the Oracle Primavera Suite will help our customers gain complete visibility, automation and financial control across their entire project and program portfolio to help them manage for long-term growth."
Oracle said that it is still looking at Skire's product roadmap and had yet to make a decision on how it will handle the products going forward. Skire executives, however, are optimistic about the impact the acquisition will have on its products.
"The capital construction and facilities industry has for decades sought a tighter relationship and greater synchronisation between owners and service providers, and the Oracle-Skire combination makes that vision a reality," said Skire founder and chief executive Massy Mehdipour.
"This announcement is the result of years of tremendous dedication by our employees, and with the support of our customers we are thrilled to be joining Oracle to provide the choice of both cloud-based and on-premise governance spanning the entire lifecycle of EPPM."
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