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Oracle Completes Acquisition of Skire to add Cloud-based and On-premise Capital Program Management Application to Primavera

PM INDUSTRY NEWS

17 November 2012 – Oracle has announced that the acquisition of Skire has been completed.  On July 19, 2012, Oracle announced that it had entered into an agreement to acquire substantially all of the assets of Skire, a provider of capital program management and facilities management applications available on the cloud and on-premise.  That transaction has closed.

According to Oracle’s news release, Skire’s software provides a complete set of management and government tools across all project phases from planning and building to operations, enabling companies to effectively manage their capital and construction programs. By combining Skire with industry leading capabilities from Oracle Primavera products, Oracle intends to create a full lifecycle Enterprise Project Portfolio Management (EPPM) platform that provides a comprehensive offering from capital planning and construction to operations and maintenance for owners and operators, contractors and sub-contractors.

The combination of Oracle’s and Skire’s solutions is expected to help organizations manage their projects and facilities with more predictability and financial control, improving profitability and operational efficiency.

“Today’s economic environment is extremely challenging,” said Mike Sicilia, Senior Vice President and General Manager, Oracle Primavera. “To stay competitive, businesses are demanding more flexible and scalable project management solutions via the cloud to meet their complex needs. ”

Skire’s software provides a set of management and governance tools across all project phases from planning and building to operations, enabling companies to efficiently manage their capital and construction programs.  By combining Skire with Oracle Primavera products, Oracle intends to create a full lifecycle Enterprise Project Portfolio Management (EPPM) platform that provides a comprehensive offering from capital planning and construction to operations and maintenance for owners and operators, contractors and sub-contractors.

The combination is expected to help organizations manage their projects with more predictability and financial control, improving profitability and operational efficiency.

Terms of the agreement were not disclosed. More information on this announcement can be found at http://www.oracle.com/skire.

Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NASDAQ:ORCL), visit www.oracle.com.

Source: Oracle