Oracle Corporation Acquires Web Document Capture Company, Captovation
Oracle Corporation (NASDAQ:ORCL) announced yesterday that they would acquire Captovation, an Eden Prairie, Minn. company that focuses on web document capture.Â Oracle plans to expand its enterprise content management line.Â The financial details were not released on the acquisition.Â Captiovation will become a part of Oracle’s Fusion Middleware product.Â Oracle acquired, Stellent, a content management application vendor last year for $440 million.Â Oracle is also in the midst of acquiring BEA Systems forÂ $8.5 billion.
Oracle’s Senior VP of server technologies, Thomas Kurian stated that Captovation’s technology will help the company’s customers handle regulatory requirements and auditing processes.Â In the last 3 years, Oracle has spent roughly $25 billion in acquisitions.
“By adding document capture to Oracle’s leading content management, process automation and back office applications, Oracle will be the only vendor that can provide customers with a fully integrated solution for automating back office operations,” stated a company rep at Oracle.
The transaction is closing in February 2008.ÂThis article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry