Portal Software purchased by Oracle

Oracle has purchased revenue management application developer Portal Software for in an approximately $220 million cash deal, continuing what some media has called a “buying binge.” Portal software is designed for the communications and media sectors, providing solutions across the accounts payable / accounts receivable spectrum.

Oracle representatives stated that, although their company already has a strong position in the global communications market, the acquisition of Portal Software further boosts their lead over the competition. Portal marks yet another application software producer buyout by Oracle in a run that includes acquisition of financial services software producer iFlex, Peoplesoft, retail outlet solutions provider Retek, and large CRM vendor Siebel Systems.