Oracle to buy Skire

ITProPortal reports.

The financial terms of the deal were not disclosed, but Oracle has said it will “acquire substantially all of the assets of Skire.”

The company will be folded into Oracle's Primavera project portfolio management software division after the deal closes, which is expected to happen before the end of 2012.

PC World notes that Skire's technology includes "a complete set of management and governance tools across all project phases, from planning and building to operations”.

Companies focused on projects as well as "asset-intensive" industries, such as mining and rail transport, are facing stiffer regulations and, as a result, "increasing costs and intense financial scrutiny", Oracle said.

By combining Skire with industry leading capabilities from its Primavera products, Oracle intends to create a full life cycle Enterprise Project Portfolio Management (EPPM) platform, Tech Week Europe says.

“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 Massy Mehdipour, founder and CEO of Skire.