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Today software maker Oracle Corp announced that it agreed to buy the business management software business of privately held Skywire Software, adding programs for insurance companies. Financial terms were not disclosed.
Published on June 23, 2008
The acquisition will help U.S.-based Oracle beef up its offerings to financial services companies, one of several industries the company has targeted for growth.
"Insurance is a strategic industry for Oracle," Oracle President Charles Phillips said in a statement.
Oracle said it has about 1,000 customers in the insurance industry, compared with 1,450 for Skywire.
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