Date Posted: 10/8/2008
Oracle buys Primavera Software
Oracle buys Primavera Software for undisclosed sum
REDWOOD SHORES, Calif. (AP) -- Business software company Oracle Corp. said Wednesday it agreed to buy Primavera Software Inc., a provider of project portfolio management software, for an undisclosed sum.
Oracle said Primavera's software helps companies prioritize project investments and manage complex projects.
The company said Primavera's employees and management are expected to join Oracle, and Chief Executive Joel Koppelman will lead the business unit as senior vice president and general manager.
The deal is expected to close this year.
Shares of Oracle added 54 cents, or 3.2 percent, to $17.30 in morning trading. Earlier, the stock touched a 2-year low of $16.01.
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