On May 13, 2008, Oracle announced it has entered into an agreement to acquire AdminServer, a rapidly growing provider of insurance policy administration solutions. The combination will result in a comprehensive, end-to-end insurance policy management solution that can service multiple insurance product lines such as life, annuities and reinsurance. The transaction is expected to close in the first half of 2008, subject to regulatory and other approvals. Until the deal closes, each company will continue to operate independently, and it is business as usual.

AdminServer’s product offering will become a core component of Oracle’s leading insurance portfolio that is already used by more than one thousand customers, including 20 of the top 20 global insurance companies. The AdminServer product line will significantly accelerate Oracle’s investment in the insurance industry and be complemented by Oracle’s existing insurance products such as Oracle Billing, Siebel Claims, Insure³ for property and casualty, and Siebel CRM for Insurance. AdminServer provides the most functionally rich and technologically advanced policy administration system for the industry. Its flexible and rules-based insurance solutions are built on modern technology that supports sales, new business and policy processing across multiple lines of business.

Together, Oracle and AdminServer plan to deliver the most modern, comprehensive, standards-based and well-integrated enterprise software suite for the insurance industry. The combined solution is expected to help insurers meet growth and profitability goals by enabling them to bring new products to market faster and at a lower cost, gain greater business insight, support diverse sales channels, and ultimately increase customer loyalty.

AdminServer’s management and employees will form a dedicated global business unit within Oracle focused on providing critical operational applications to the insurance industry.

After the close of the transaction, Oracle partners are expected to benefit from working with a single vendor to address customer needs for integrated, end-to-end insurance solutions, as well as Oracle’s worldwide resources and partner ecosystem. System Integrators and Value Added Resellers are expected to have the opportunity to provide world-class solutions to customers through an expanded application footprint. Independent Software Vendors are expected to benefit from the opportunity to leverage the combined, broader footprint.

We are dedicated to delivering solutions that help global insurance customers address their enterprise software requirements. To learn more about the proposed combination of Oracle and AdminServer, please visit oracle.com/adminserver.

We appreciate your continued support.

Sincerely,
 
Charles Phillips
President

 

The above is for informational purposes only and may not be incorporated into a contract.

 
 
 
 

Oracle is currently reviewing the existing DataRaker product roadmap and will be providing guidance to customers in accordance with Oracle's standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle's review of DataRaker product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by DataRaker or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. It is intended for information purposes only, and may not be incorporated into any contract.

Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and DataRaker, including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of DataRaker, anticipated customer benefits and general business outlook. When used in this document, the words "anticipates", "can", "will", "look forward to", "expected" and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or DataRaker, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business may deteriorate and/or Oracle or DataRaker may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or DataRaker. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor DataRaker is under any duty to update any of the information in this document.

 
 
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