Oracle buys engineering and construction cloud platform
Oracle is acquiring Textura, a provider of construction contracts and payment management cloud services for $US663 million
Textura’s cloud services process $US3.4 billion in payments for over 6,000 projects each month and offers its cloud services in a consumption model preferred by the engineering and construction industry whereby the companies involved pay based on project activity. More than 85,000 general and subcontractors are connected to the platform.
Oracle is integrating Textura with its Primavera suite of cloud solutions for project, cost, time and risk management. Together, they will form the Oracle Engineering and Construction Global Business Unit offering a comprehensive cloud-based project control and execution platform that manages all phases of engineering and construction projects.
“The increasingly global engineering and construction industry requires digital modernisation in a way that automates manual processes and embraces the power of cloud computing to easily connect the construction job site, reduce cost overruns, and improve productivity,” said Mike Sicilia, SVP and GM, Engineering and Construction Global Business Unit, Oracle.
“Together, Textura and Oracle Engineering and Construction will have the most comprehensive set of cloud services in the industry.”