Wednesday, October 8, 2008

Oracle Buys Project Management Software Firm

Redwood Shores-based Oracle said Wednesday that it has agreed to acquire Primavera Software, a provider of project portfolio management software. Financial terms of the deal were not disclosed. According to Oracle, Primavera's employees and management will join the firm to form a new global business unit focused on Enterprise Project Portfolio Management (PPM). Primavera's software is used by companies to manage projects, including planning, managing, and controlling projects in engineering and construction, aerospace and defense, utilities, oil and gas, manufacturing, and professional services. Primavera was based in Bala Cynwyd, PA.