Oracle Buys Textura for $663 Million to Increase its Construction IT Business

Subscribe to get our blog posts in your inbox --> Click Here.

Oracle Buys Textura Construction management

Oracle announced that it is buying Textura to build out its Primavera project management and billing business.

Textura is a provider of cloud-based contract and payment management solutions for the construction industry.  Oracle bought them in an all-cash deal for $663 million.

Oracle is planning on combining Primavera and Textura to form a new global unit - Oracle Engineering and Construction.  The transaction is expected to be approved this year.

"The increasingly global engineering and construction industry requires digital modernization in a way that automates manual processes and embraces the power of cloud computing to easily connect the construction job site, reduce cost overruns, and improve productivity.  Together, Textura and Oracle Engineering and Construcion will have the most comprehensive set of cloud services in the industry."

Textura is one of the largest construction project management services available globally.  It currently processes $3.4 billion in payments for over 6,000 projects monthly.  It has over 85,000 contractor users.

Click here to read the full story. 

You Might Also Like...

Jul 30, 2015 ... Many in the construction industry don't think social media is for theirbusiness. However, with 200 million adults using the Internet daily, social ...
Jun 17, 2015 ... Construction clients (well, all clients), are looking to save money in the ... is the key to making clients happy, and gain their continual business.
Oct 1, 2013 ... These statistics are indicative of what those in the construction industry have known for years: Construction is dangerous business. This isn't ...