Mergers and Acquistions News
Categories: Software
April 16th 2010, 16:23PM
Oracle, the world's largest enterprise software company, has acquired life sciences and healthcare software provider Phase Forward in an all-cash merger valued at approximately $685 million (£444 million).
Phase Forward's software-as-a-service-based Integrated Clinical Research Suite is used to manage clinical development and safety processes from clinical trials and is expected to add complementary assets to Oracle Health Sciences.
The acquisition is also seen as part of Oracle's strategy to provide mission-critical applications in key sectors.
Neil de Crescenzo, senior vice-president and general manager of Oracle Health Sciences, said that the life sciences and healthcare industries are beginning to converge in an attempt to control costs.
"Phase Forward brings outstanding products and employees with significant expertise to Oracle that will help enable the delivery of personalized medicine and value-based healthcare," he added.
Oracle made the major acquisition of Sun Microsystems, a provider of servers, storage and software, for $7.4 billion (£4.8 billion) in January.
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