Oracle acquires Textura for $663 million; Will combine products with those of Bala Cynwyd-founded Primavera

Tom Paine

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Oracle today announced the acquisition of Deerfield, IL-based Textura for $663 million. Textura provides cloud services for the engineering and construction industry.

Textura's products will be combined with Oracle's existing Primavera project-management suite - the result of a 2008 acquisition - in the Oracle Engineering and Construction Global Business Unit, Oracle said.

Primavera, founded by Joel Koppelman, was based in Bala Cynwyd and still has a significant presence there, although I'm not sure of its scope. I've got a call into Oracle to find out more. Primavera became a primary player in the Project Portfolio Management market for large construction and engineering projects. Koppelman, a Drexel and Penn grad, was also a thought leader in the Project Portfolio Management field. I don't recall anyone offering up the exact price that Oracle paid for Primavera, but my recollection says it was at least a couple of hundred million dollars in a down market.

Koppleman stayed on briefly following the acquisition by Oracle before leaving the software business.

Textura is a bit like SAP's Ariba, but for engineering and construction projects. Textura’s cloud  processes $3.4 billion in payments for more than 6,000 projects each month, Oracle said, and more than 85,000 contractors and subcontractors are connected to the platform.

Oracle says it plans to continue to invest in the engineering and construction industry.