Oracle announced it has entered into an agreement to acquire Primavera Software, Inc., a leading provider of Project Portfolio Management (PPM) solutions for project-intensive industries. The transaction is subject to customary closing conditions and is expected to close in the second half of 2008. Until the deal closes, each company will continue to operate independently.

Primavera offers best-in-class solutions focused on the mission critical PPM requirements of key vertical industries including engineering and construction, public sector, aerospace and defense, utilities, oil and gas, manufacturing and high tech, and IT and services. Primavera helps more than 5,000 global customers and over 2.5 million users propose, prioritize, select, plan, manage, and control complex projects.
Via this Oracle announcement.