Hardware and software systems provider Oracle
has acquired Software-as-a-Service (SaaS) collaboration solutions provider Textura. Oracle, which was established in 1977, has headquarters in Redwood Shores, California, United States. The company caters to around 380,000 customers including Fortune 100 companies. It has shifted focus onto cloud activity over recent years and its purchase of Textura adds cloud-based contracts and payment management services to Oracle’s ‘Engineering and Construction Industry Cloud Platform’.
Textura, which has headquarters in Deerfield, Illinois, United States, specializes in consumption model-based SaaS collaboration and productivity tools for the construction industry. Its award-winning solutions cater for the entire construction project lifecycle. The company manages around 6,000 projects per month and generates income in excess of $3.4 billion.
Oracle’s acquisition of Textura is reported to have cost around $660 million. Textura’s solutions will be merged with Oracle Primavera to form a new Oracle Engineering and Construction Global Business Unit.
"The increasingly global engineering and construction industry requires digital modernization in a way that automates manual processes and embraces the power of cloud computing to easily connect the construction job site, reduce cost overruns, and improve productivity," explained Oracle’s SVP and GM, Engineering and Construction Global Business Unit, Mike Sicilia. "Together, Textura and Oracle Engineering and Construction will have the most comprehensive set of cloud services in the industry."Do you know of any other companies involved in acquisitions? Let us know the details. Add your comments below.