July 19, 2012 / 12:28 PM / 5 years ago

Oracle to buy privately held Skire

(Reuters) - Software maker Oracle Corp said it would buy privately held Skire Inc, which makes software that helps companies plan and execute projects, for an undisclosed amount.

Skire is Oracle’s fifth acquisition this year. The company bought Taleo Corp, a maker of Web-based software for recruiting employees, for $1.9 billion earlier this year.

Menlo Park, California-based Skire, which was founded in 2000, will help its customers deliver projects on time and budget, improving efficiency and cutting costs, Oracle said.

The deal is expected to close in the second half of 2012, after which Skire products will be added to Oracle’s project portfolio management offering for large companies.

Skire’s customers include Anheuser Busch Inbev SA, ConocoPhillips Co, Boise Inc, DTE Energy Co and Xcel Energy Inc.

Oracle reported strong quarterly results last month as sales of new software licenses jumped, while rival IBM raised its full-year profit target on Wednesday reflecting its ability to manage costs as global technology spending sputters.

Reporting by Sayantani Ghosh in Bangalore; Editing by Sreejiraj Eluvangal

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