Oracle Corporation, the California based software behemoth, has announced the acquisition of Silver Creek Systems, a Colorado based data quality vendor which offers software that simplifies and standardised product description across supply chains.
Interestingly, though the announcement was made this week, the acquisition process was completed in December 2009. The financial details of the deal were not disclosed by this acquisition will help Oracle widen its consumer base.
The Silver Creek acquisition was the ninth takeover deal the company made in 2009, taking the number of acquisitions made by the company between 2005 and 2009 to 56.
The company revealed that Silver Creek’s product data technology will be incorporated with Oracles business software like Product Master, Lifecycle Management, Supply Chain and e-commerce. Oracle also added that Silver Creek’s data quality checking technology will be rolled into Oracle’s Product Hub.
In a presentation released along with the acquisition announcement, Oracle said that "Better product data quality benefits various industries in different ways, such as by improving a retail chain's online shopping experience, or helping a services company create a single, definitive service catalog".
However, the company failed to comment on the development plans for Silver Creek software but added that it was planning to increase spending on research and development.
Interestingly, Oracle did not say how much it paid for Silver Creek. Oracle has been sitting on a cash chest of more than $20.8 billion with total assets worth $53.8 billion. Thereby expect even more acquisitions from the big firms this year as well.