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Oracle Agrees To Acquire Skire

By Tess Stynes Oracle Corp. (ORCL) agreed to acquire privately held Skire, a provider of capital program management and facilities management applications. The company said that it plans to combine Skire with its Primavera products to create a project management platform that provides a comprehensive offering of capital planning, construction and operations applications. Further terms of the acquisition weren't disclosed. Skire offers both cloud-based and on-premise-based applications. The deal is the latest acquisition for Oracle of companies with cloud-based technologies and comes as more companies are seeking such services. Oracle last month reported that its fiscal fourth-quarter earnings rose 7.5% as software revenue improved and despite a drop in services and hardware-systems revenue. Shares rose 0.3% to $30.60 in recent premarket trading. The stock is up about 19% this year. Write to Tess Stynes at [email protected] Subscribe to WSJ:

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