Redwood City, Calif.-based Oracle plans to acquire Portal Software, a company that offers billing and revenue management software to communications and media firms, for roughly $220 million, or $4.90 per share, The Wall Street Journal reports.
A new communications business unit within Oracle will be created with Portal’s current management and staff, and it will focus mainly on the management of billing and revenue, The Journal reports. According to Oracle, Bhaskar Gorti, a senior vice president of worldwide sales, services and marketing with Portal, will head up the new unit as general manager, and Portal’s founder and chief executive officer, Dave Labuda, is to become the new division’s chief technology officer, according to The Journal.
Charles Phillips, Oracle’s president, told The Journal, “We supply technology and applications to over 90 percent of communications companies worldwide today, and billing is a logical and complementary addition for those customers.”
Oracle’s fiscal third-quarter profit jumped up by 42 percent with an 18 percent increase in revenue, boosted in part by the company’s recent acquisition of companies like Siebel Systems for $5.75 million, and last year’s acquisition of PeopleSoft for $10.6 million, The Journal reports.
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