Dear Customers and Partners,
On July 19, 2012, Oracle announced that it has entered into an agreement to acquire substantially all of the assets of Skire, a leading provider of capital program management and facilities management applications available on the cloud and on-premise. The transaction is subject to customary closing conditions and approvals and is expected to close in the second half of 2012. Until the transaction closes, Oracle and Skire will continue to operate independently, and it is business as usual.
Project lifecycle processes in asset-intensive industries remain fragmented and lack automation resulting in new requirements for next generation software solutions. Enterprises in many industries including among others, Power and Utilities, Oil and Gas, Manufacturing, Government, Financial Services, and Healthcare are faced with increasing scrutiny to improve the management of new capital investments and maximize existing operations for aging and new infrastructure assets. Customers need a partner that can offer end-to-end capabilities through an Enterprise Project Portfolio Management (EPPM) platform to provide complete visibility, process management and financial control for their portfolio of capital projects and facilities and properties.
Skire's software provides a complete set of management and government tools across all project phases from planning and building to operations, enabling companies to effectively manage their capital and construction programs. By combining Skire with industry leading capabilities from Oracle Primavera products, Oracle expects to create a full lifecycle EPPM platform that provides a comprehensive offering from capital planning and construction to operations and maintenance for owners and operators, contractors and sub-contractors.
The combination of Oracle's and Skire's solutions is expected to help organizations manage their projects and facilities with more predictability and financial control, improving profitability and operational efficiency. The complementary solutions of Oracle Primavera and Skire when integrated with Enterprise Resource Planning, Human Capital Management and Financial systems will create a compelling platform for strategic planning and operational execution.
The Skire management team and employees are expected to join Oracle as part of the Oracle Primavera global business unit, ensuring the continuity of products and services delivery for Skire customers, and bringing significant domain expertise to Oracle. To learn more about the proposed combination of Oracle and Skire, please visit oracle.com/skire.
Senior Vice President and General Manager
Oracle is currently reviewing the existing Skire 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 Skire's product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by Skire 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 website contains certain forward-looking statements about Oracle and Skire, including statements that involve risks and uncertainties concerning Oracle's acquisition of substantially all of Skire's assets, anticipated customer benefits and general business outlook. When used on this website, 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 Skire, 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 anticipated synergies of the combined assets 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, and the possibility that Oracle or Skire 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 Skire. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this letter. Neither Oracle nor Skire is under any duty to update any of the information on this website.