Monday, June 23, 2008

Oracle Buys Skywire Software

Redwood Shores-based Oracle said this morning that it has agreed to acquire Skywire Software, a provider of insurance and document management applications. Financial details of the acquisition were not provided. According to Oracle, it will use the acquisition, along with the pending acquisition of AdminServer, as the basis for a software suite for the insurance market. Oracle said that Skywire Software's employees and management are expected the join the firm as part of its Oracle Insurance Global Business Unit. The deal is expected to close in the second half of 2008.