Oracle on Wednesday announced that it plans to acquire Primavera Software, a maker of project management software.
The deal, whose financial terms were not disclosed, is expected to close by the end of the year. Through it, Oracle aims to integrate its enterprise applications and infrastructure software with Primavera's PPM software, which is designed to aid companies in proposing, planning, managing and controlling complex projects and projects within a portfolio.
"Enterprise PPM is moving to the forefront of business strategy for industries managing complex and capital-intensive projects, and has emerged as a global driver for value creation and business success," Oracle President Charles Phillips said in a statement.
Primavera was not alone in the project management software field. Seven years ago, Microsoft announced plans to step into the market with its own project software.
Once the deal closes, Oracle Enterprise PPM will be marketed to companies specializing in engineering, construction, aerospace and defense, utilities, oil and gas, manufacturing, and professional services, according to Oracle.