Oracle to buy project management software company Skire

Software giant Oracle is preparing to buy Skire, a project and facilities management software developer, the company has said.

The financial terms of the deal were not disclosed but Oracle has said it will “acquire substantially all of the assets of Skire.” The company will be folded into Oracle’s Primavera project portfolio management software division after the deal closes, which is expected to happen before the end of 2012.

“Project-intensive enterprises are facing intense pressure to deliver projects on time and on budget,” Oracle Primavera senior vice president and general manager Mike Sicilia said in a statement. “Adding Skire to the Oracle Primavera Suite will help our customers gain complete visibility, automation and financial control across their entire project and program portfolio to help them manage for long-term growth.”

Skire’s products have been used by the likes of Qualcomm, Bank of America, and ConocoPhilllips.

Oracle, which purchased Primavera in 2008, has been on buying spree, having made a five acquisitions this year. In February, the company bought Taleo, which specialised in Web-based recruitment applications, for $1.9 billion (£1.2 billion).