Friday, April 16, 2010

Oracle Buys Phase Forward

Redwood Shores-based Oracle said Friday that it has acquired publicly held Phase Forward, a developer of software-as-a-service applications for collecting clinical trial data. Oracle said it would pay approximately $685M, or $17.00 per share, for Phase Forward. Phase Forward's software is used for managing clinical development and safety processes for Phase 1 clinical trials. Phase Forward will become part of Oracle's Health Sciences Global Business Unit.