Oracle is acquiring Instantis, a developer of on-premise and cloud-based project and portfolio management (PPM) software, the companies said Thursday.
Oracle will combine the Instantis technology with its own Primavera project management application and Fusion applications to create what the company described as "the most comprehensive set of cloud-based and on-premise enterprise project portfolio management solutions."
PPM applications are used to manage multiple projects in such areas as capital construction and maintenance, IT, manufacturing and product development. They help businesses manage project timetables and make decisions about deploying resources to multiple projects.
[Related: How To Use The Cloud To Speed Up IT Projects]
"Organizations realize the need for a more simplified approach to address project portfolio management initiatives -- and yet most solutions are too complicated and expensive to deploy," said Mike Sicilia, senior vice president and general manager, Oracle Primavera, in a statement. "By adding Instantis, Oracle can help customers gain complete visibility and control of their mission-critical project initiatives using a top-down approach suited for projects throughout the entire organization."
Oracle did not disclose terms of the acquisition, which is subject to customary closing conditions and regulatory approvals. Oracle expects to complete the acquisition of Santa Clara, Calif.-based Instantis by the end of the year.
The company said the Instantis management team, including founder and CEO Prasad Raje, and the company's employees are expected to join Oracle as part of the Oracle Primavera Global Business Unit.
On the partner front, Oracle said Instantis' software would become part of the Oracle Primavera product portfolio, which is "expected to provide partners with the opportunity to broaden their specialized offerings to project- and asset-intensive industries," Oracle said.
The acquisition will help partners "gain improved access, support and training for Instantis products and solutions" and "benefit from the complementary solution that provides an opportunity to increase business value and improve the project and program management process through an integrated [enterprise] PPM solution," according to the company.
PUBLISHED NOV. 8, 2012
