News
Oracle Buys Skywire Software
June 2008 by Marc Jacob
Oracle announced that it has agreed to acquire Skywire Software’s application software business. Skywire Software is a provider of insurance software and document management business applications.
Skywire Software’s insurance software assists insurers in managing the life cycle of an insurance policy, including insurance policy creation, rating, insurance agent/broker management and information exchange solutions. With Skywire Software and the pending acquisition of AdminServer, Oracle is expected to accelerate the formation of the most complete software suite for the insurance enterprise to include Oracle’s database and middleware for technical infrastructure, Oracle applications to support general business, insurance-specific functionality in Oracle Billing, Siebel Claims, Siebel CRM and Insure³, plus Skywire Software and AdminServer to further support insurance policy life cycle management.
Skywire Software employees and management are expected to join the Oracle Insurance Global Business Unit together with the pending acquisition of AdminServer. Skywire Software’s 1,450 insurance customers will add increased scale to Oracle’s existing base of over 1,000 insurers. The addition of Skywire Software will also expand Oracle’s Enterprise Content Management solution with customer communication management and document automation capabilities, enabling Oracle to provide an end-to-end, multi-channel content capability spanning multiple industries including financial services, legal and utilities.
The transaction is expected to close in the second half of 2008. Until the deal closes, each company will continue to operate independently. Financial details of the transaction were not disclosed.
