Construction and the cloud: Oracle buying Textura for $663 million

Oracle is buying Textura, a maker of cloud software used to manage construction projects, in a $663 million cash deal.

Textura, which is based in Illinois, processes $3.4 billion of payments for 6,000 projects a month, according to a press release Thursday. Textura’s software will be offered with Oracle’s Primavera project management applications as part of the Redwood City giant’s Engineering and Construction Global Business Unit.

One construction industry forecast, issued by CMD today, predicts more than $700 billion worth of construction starts by 2020.

Textura released first-quarter results today, reporting $24.7 million in sales, a 28 percent increase from the same period a year ago. It reported a loss of $1.5 million.

The Textura deal, which is expected to be completed this year, works out to $26 a share. Shares of Textura are surging more than 30 percent to $25.98. Oracle shares are down slightly, less than o.5 percent, to $40.72.

The deal is Oracle’s fourth and most expensive acquisition of the year. Earlier this month, Oracle bought Israel-based machine-learning marketing startup Crosswise for $50 million. In February, Oracle bought Palo Alto-based cloud enterprise company Ravello Systems for a reported $500 million. And in January, Oracle scooped up AddThis, a Virginia-based provider of audience-tracking technology for publishers, for a reported $100 million to $200 million.

 

Photo: The Oracle campus in Redwood City, Calif., on Sept. 2, 2015. (Karl Mondon/Bay Area News Group)

 

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