Oracle acquires Phase Forward

Summary:Oracle has bought the healthcare and life sciences software company, paying at 30-percent premium for its services

Oracle said on Friday it will acquire Phase Forward, a healthcare and life sciences software provider, for $685m. Oracle, which is intensely focused on vertical-specific applications, said the deal will bolster its healthcare software line-up.

Phase Forward's software is delivered as a service. The company's Integrated Clinical Research Suite manages the drug submission development and safety processes from trial to submission to the Food and Drug Administration and other authorities.

Oracle paid $17 (£11) a share for Phase Forward, which closed on Thursday at $13.08 a share, marking the deal as a 30-percent premium. The purchase will help position Oracle for the healthcare IT boom. Phase Forward was showing some strong growth. In 2009, Phase Forward delivered revenue of $213.3m, up 25 percent from 2008. Net income was $8m.

For more on this story, see Oracle buys Phase Forward; Bolsters healthcare software on ZDNet.com

Topics: Tech Industry

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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