SOURCE: Oracle Corporation
REDWOOD SHORES, CA--(Marketwire - Nov 8, 2012) - Oracle (NASDAQ: ORCL)
- Oracle today announced that it has entered into an agreement to acquire Instantis, a leading provider of cloud-based and on-premise project portfolio management (PPM) solutions.
- Instantis enables IT departments, product development teams, and business process leaders to manage multiple corporate initiatives, and improve strategic alignment, execution, and financial performance.
- By combining Instantis with leading capabilities from Oracle's Primavera and Fusion Applications, Oracle expects to provide the most comprehensive set of cloud-based and on-premise Enterprise Project Portfolio Management solutions
- The combined Oracle solutions will provide the ability to manage, track and report on enterprise strategies - from capital construction and maintenance, to manufacturing, IT, new product development, Lean Six Sigma, and other corporate initiatives.
- Terms of the agreement were not disclosed. More information on this announcement can be found at http://www.oracle.com/instantis
- "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. "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'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, CEO and Founder, Instantis.
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This document is for informational purposes only and may not be incorporated into a contract or agreement.
Oracle is currently reviewing the existing Instantis product roadmap and will be providing guidance to customers in accordance with Oracle's standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle's review of Instantis' product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by Instantis or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. It is intended for information purposes only, and may not be incorporated into any contract.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and Instantis including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of Instantis, anticipated customer benefits and general business outlook. When used in this document, the words "anticipates," "can," "will," "look forward to," "expected" and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Instantis that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business may deteriorate and/or Oracle or Instantis may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Instantis. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor Instantis is under any duty to update any of the information in this document.