December 17, 2012 – Oracle announced another cloud-based vendor buyout, this time tapping into the burgeoning utility analytics sector.
Oracle stated it plans to acquire DataRaker, a Sausalito, Calif.-based vendor specializing in on-demand offerings for analytic capabilities with utility industry customer and meter data. Oracle pointed to the deal as a boost to its cloud-based utility solutions to handle big data analytics with customer support and revenue management, power sensor and meter monitoring, and service personalization, according to a release on the proposed deal.
DataRaker employees and solutions would be folded into Oracle’s existing Utilities applications portfolio, according to a statement on the deal. Financial details of the proposed deal, which was announced Thursday, were not disclosed. DataRaker executives have backgrounds with other leading positions at Nexus Energy Software, later renamed Aclara, and ICF Energy Solutions.
The smart-grid market is expected to reach $23.1 billion in yearly investments by 2017, an increase from $15.3 billion in projected spending by the end of this year, according to Bloomberg New Energy Finance (BNEF). BNEF Water Analyst Maxime Serrano Bardisa remarked in a statement on the Oracle announcement that the analytics software side of the smart-grid market in particular has seen more investment and vendor buy-outs.
The proposal for DataRaker marks the third deal by Oracle for a cloud-based vendor in four months. In early November, Oracle announced a buy of on-demand portfolio management provider Instantis to expand its Primavera solutions line, and in September Oracle stated it would buy cloud talent management vendor SelectMinds.