Oracle this morning announced an agreement to acquire Instantis, a Santa Clara, California-based provider of cloud-based an on-premise project portfolio management software. Oracle says Instantis "enables IT departments, product development teams and business process leaders to manage multiple corporate initiatives, and improve strategic alignment, execution, and financial performance."
Terms were not disclosed.
Instantis notes on its Web site that it has raised over $30 million in capital from a group that includes U.S. Venture Partners, JK&B Capital, Goldman Sachs and angel investor Kanwal Rekhi.
