Textura Corporation — the software maker for joint work. Cloud solutions of the company are focused on the construction industry and are held for use for all project lifecycle — from predesign of amounts of works, value assessment, design and management of tender on provision of services before transfer for consideration, managements on places, money transfer and assessment of environmental efficiency of construction.
As of the end of April, 2016 cloud services of Textura monthly process payments for the amount of $3.4 billion within more than 6 thousand projects. Over 85 thousand contractors and subcontractors are connected to the platform of the company.
2016: Oracle buys Textura
On April 28, 2016 the producer of corporate software Oracle announced purchase of Textura for $663 million cash. Within the transaction which is going to be closed until the end of 2016 shareholders of Textura will receive $26 for an action that is 30.7% more than the cost of securities at the time of closing of the exchange on April 27, 2016. The statement for sale of Textura provoked growth of quotations of the company by 28%.
The products Textura will be integrated with the software of Oracle Primavera used for management and control of projects and also tracking of the resources used in them, materials and the equipment. The absorbed company will be included into division of Oracle Engineering and Construction Global Business Unit which will focus on development of the complex cloud platform intended for management of all stages of engineering and construction projects.
 | The industry of design and construction requires digital upgrade on the way to automation of manual processes and implementation of powerful cloud computing for easy connection to building sites, decrease in overexpenditures and improvement of productivity more and more — the senior vice president of Oracle and the head of division of Engineering and Construction Global Business Unit Mike Sicilia noted. |  |
According to forecasts of Textura and Oracle, by 2030 world construction expenses will reach $17.5 trillion, up to 10% of this amount will be spent for inefficient processes. Oracle aims to save the companies from optional expenditure at the expense of the software solutions.[1]
In more detail about company takeovers of Oracle of cm: Merger of Oracle
Notes
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