Oracle Expands Project Management Offerings With Skire Acquisition2:13 PM EST Thu. Jul. 19, 2012
Oracle is acquiring the assets of Skire, a developer of capital program management and facilities management applications, Oracle said Thursday. Oracle plans to combine the technology with its Primavera project management software.
Oracle did not disclose what it is paying for what it described as "substantially all of the assets of Skire," which is based in Menlo Park, Calif. The deal, expected to close before the end of 2012, is subject to customary closing and regulatory requirements.
Skire's software includes management and governance tools that cover all phases of a capital construction project, from planning and building to operations. The applications, Oracle said, help companies efficiently manage their capital and construction programs.
Skire sells into such industries as power and utilities, oil and gas, manufacturing, government, financial services and healthcare. Customers include Anheuser-Busch, the Dallas/Fort Worth International Airport and Nationwide.
By combining the Skire applications with Primavera, Oracle intends to create what it described in a statement as "a full lifecycle enterprise project portfolio management" platform covering everything from capital planning and construction to operations and maintenance for owners, operators, contractors and subcontractors. The platform will help businesses manage projects with more predictability and financial control, Oracle said.
Oracle also intends to integrate Skire with its ERP, human capital management and financial applications, according to a presentation Oracle posted online detailing its plans for the Skire technology.
Oracle acquired Primavera in October 2008 for an undisclosed sum.
"Project-intensive enterprises are facing intense pressure to deliver projects on time and on budget," said Mike Sicilia, senior vice president and general manager, Oracle Primavera, in a statement. "Adding Skire to the Oracle Primavera Suite will help our customers gain complete visibility, automation and financial control across their entire project and program portfolio to help them manage for long-term growth."
"The capital construction and facilities industry has for decades sought a tighter relationship and greater synchronization between owners and service providers, and the Oracle-Skire combination makes that vision a reality," said Massy Mehdipour, founder and CEO of Skire, in the same statement.
In a letter to customers and partners, Sicilia said the Skire management team and employees would join the Oracle Primavera global business unit. He also said Oracle is currently reviewing the existing Skire product roadmap and will provide customers with guidance "in accordance with Oracle's standard product communication policies."
PUBLISHED JULY 19, 2012