Adds Cloud-based and On-premise Project Portfolio Management Offerings for IT, New Product Development and Process Improvement Initiatives
Oracle, a leading provider of ERP software, today announced that it has entered into an agreement to acquire Instantis, a leading provider of cloud-based and on-premise project portfolio management (PPM) solutions. Instantis enables IT departments, product development teams, and business process leaders to manage multiple corporate initiatives, and improve strategic alignment, execution, and financial performance.
“Organizations realize the need for a more simplified approach to address project portfolio management initiatives – and yet most ERP solutions are too complicated and expensive to deploy,” said Mike Sicilia, senior vice president and general manager, Oracle Primavera. “By adding Instantis, Oracle can help customers gain complete visibility and control of their mission-critical project initiatives using a top-down approach suited for projects throughout the entire organization.”
By combining Instantis with leading capabilities from Oracle’s Primavera and Fusion Applications, Oracle expects to provide the most comprehensive set of cloud-based and on-premise Enterprise Project Portfolio Management solutions. The combined Oracle solutions will provide the ability to manage, track and report on enterprise strategies – from capital construction and maintenance, to manufacturing, IT, new product development, Lean Six Sigma, and other corporate initiatives.
“Oracle’s acquisition of Instantis represents a strong endorsement of the EnterpriseTrack cloud-based technology and the value customers have achieved with our ERP solutions. We’re excited to be a part of Oracle as we combine resources to help the business scale more rapidly,” said Prasad Raje, CEO and Founder, Instantis.
Terms of the agreement were not disclosed. More information on this announcement can be found at http://www.oracle.com/instantis.