Oracle has acquired project management software house Instantis, and says it will integrate the company's code into its Primavera and Fusion Applications platforms.
"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, general manager of 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," he said.
The deal is part of Oracle's continuing movement cloudward, following on from Larry Ellison's announcement of plans to go online with Oracle Cloud. It's a major turnaround for the company, considering Larry's previous comments that cloud was nothing more than "water vapor."
Instantis produces management software both for on-premises use and via the cloud, in the latter case using its EnterpriseTrack system. The software allows people in disparate departments to manage and update projects on the fly and display progress using built-in reporting tools.
"Oracle's acquisition of Instantis represents a strong endorsement of the EnterpriseTrack cloud-based technology and the value customers have achieved with our solutions. We're excited to be a part of Oracle as we combine resources to help the business scale more rapidly," said Prasad Raje, founder of Instantis.
Terms of the deal were not disclosed, but the two companies expect to have the paperwork signed off by the end of the year. Instantis will be folded into Oracle's Primavera global business unit as a subsidiary unit. ®