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.

Oracle Corporation announced today that it had received approval of the European Commission and subsequently completed its acquisition of BEA Systems, Inc.

“The addition of BEA will accelerate innovation by bringing together two companies with a common vision of a modern service-oriented architecture (SOA) infrastructure,” said Oracle President Charles Phillips. “Together, Oracle and BEA will provide a series of complementary and well-engineered middleware products, allowing customers to more easily build, deploy, and manage applications in a secure environment.”

Oracle today announced fiscal 2008 Q2 GAAP earnings per share were up 36% to $0.25, compared to the same quarter last year. Second quarter total GAAP revenues were up 28% to $5.3 billion, while quarterly GAAP net income was up 35% to $1.3 billion. Total GAAP software revenues were up 29% to $4.2 billion with GAAP new software license revenues up 38% to $1.7 billion. Database and middleware new license revenues were up 28% and applications new license revenues were up 63%. Services revenues were up 22% to $1.2 billion, compared to the same quarter last year.“In Q2 Oracle’s applications new license sales grew 63% compared to SAP’s new license sales growth rate of 15% in their most recently completed quarter,” said Oracle President, Charles Phillips. “We like our growth strategy of expanding beyond ERP into high-end industry specific vertical software in contrast to SAP’s strategy of moving down market to sell ERP systems to small companies.”“Our database and middleware new license sales grew 28% in Q2,” said CEO, Larry Ellison. “We continue to take market share from IBM in both product categories.”