November 8, 2012 – Oracle announced Thursday it had entered into an agreement to acquire on-premise and cloud-based portfolio management vendor Instantis for an undisclosed sum.
Upon the completion of the proposed deal, Instantis employees and solutions would join Oracle’s Primavera enterprise portfolio management line and Fusion applications. Oracle stated that Instantis’ cloud and on-premise project portfolio management offerings for IT, product development and process improvement are largely complementary to its Primavera solutions, though the Instantis solutions would be further developed as part of Primavera to expand its PPM capabilities in order to support business sponsors and project teams.
“Projects, programs and initiatives have increasingly become change agents within an organization, resulting in new requirements for next generation software solutions,” said Mike Sicilia, SVP and GM of Oracle Primavera, in a letter to Oracle customers and partners on the proposed deal.
Instantis was founded in 1999 by CEO Dr. Prasad Raje, who was previously a manager and engineer at HP. Its flagship product, EnterpriseTrack, follows enterprise requirements and improvements of product portfolios along Lean Six Sigma guidelines, and counts DuPont and Credit Suisse among its customers. The vendor is headquartered in Santa Clara, Calif.
Oracle anticipates that the transaction will close by the end of the year.
It is Oracle’s first announced acquisition this quarter and the first since the September deal for cloud-based talent management provider SelectMinds.