Applications

Oracle Buys AdminServer

Oracle announced today that it has agreed to acquire AdminServer, a rapidly growing provider of insurance policy administration software. AdminServer’s product offering will become a core component of Oracle’s existing insurance industry software that is used by more than one thousand insurers, including 20 of the top 20 global insurance companies.

The AdminServer product line will significantly accelerate Oracle’s investment in the insurance industry and be complemented by Oracle’s existing insurance products such as Oracle Billing, Siebel Claims and Siebel CRM for Insurance.

The transaction is expected to close in the first half of 2008. Until the deal closes, each company will continue to operate independently. Financial details of the transaction were not disclosed. More information is available at http://www.oracle.com/adminserver.

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