(Bloomberg) -- Oracle Corp. agreed to buy cloud-services company Textura for $26 a share, expanding its engineering and construction services.
The transaction is valued at about $663 million, net of Textura’s cash, Redwood City, California-based Oracle said in a statement Thursday.
Textura’s cloud services process $3.4 billion in payments for more than 6,000 projects a month, helping keep projects on time and on budget and reducing risk for developers and contractors, Oracle said. Textura will fit within Oracle Primavera, whose cloud services are “growing rapidly” as construction and engineering companies move from blueprints to digital.
Oracle has been working in recent years to reinvent itself for Internet-based software services as it competes with Salesforce.com Inc. and Amazon.com Inc. Oracle Chief Executive Officer Mark Hurd said at the company’s annual conference in October that virtually all of its product portfolio has been redesigned for the cloud.
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