TMCnet News
Oracle to acquire InstantisNov 09, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Oracle Corporation, an enterprise software company, has entered into an agreement to acquire Instantis, Inc., a provider of cloud-based and on-premise project portfolio management (PPM) solutions. Both the companies are based in the US. Earlier, Instantis had secured funding from US Venture Partners, JK&B Capital, Shea Ventures, Goldman Sachs and Kanwal Rekhi. The transaction is expected to complete by the end of 2012. Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2012-11-08 Deal Participants Target (Company) Instantis, Inc. Acquirer (Company) Oracle Corporation Deal Rationale The acquisition will allow Oracle to expand its cloud-based and on-premise enterprise project portfolio management solutions allowing customers to plan and execute initiatives throughout their organizations. |