Oracle (NYSE: ORCL) is to acquire Textura (NYSE: TXTR), a Deerfield, IL-based provider of construction contracts and payment management cloud services for $26.00 per share in cash.
The transaction, expected to close in 2016, is valued at approximately $663m, net of Textura’s cash.
Led by David Habiger, Chief Executive Officer, Textura provides cloud services in a consumption model whereby the engineering and construction companies involved pay based on project activity. The services process $3.4 billion in payments for over 6,000 projects each month while their usage creates a network effect that benefits all participants as more than 85,000 general and subcontractors are connected to the platform.
Together, Oracle Primavera and Textura will form the Oracle Engineering and Construction Global Business Unit offering a cloud-based project control and execution platform that manages all phases of engineering and construction projects.
Oracle Primavera offers a suite of cloud solutions for project, cost, time and risk management.
FinSMEs
04/05/2016