Tuesday, May 13, 2008
Oracle Buys AdminServer
Redwood Shores-based Oracle said today that it has acquired AdminServer, a provider of insurance policy administration software. Financial terms of the acquisition were not disclosed. Oracle said that it would use AdminServer's product offering as a core component of its existing insurance industry software. AdminServer's CEO, Rick Connors, will join Oracle to lead a new business unit focused on operational applications for the insurance industry. The deal is expected to close in the first half of the year.