Friday, June 14, 2024

Oracle Snaps Up Bridgestream

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Bridgestream, which develops software used to map business relationships within an organization, on Friday confirmed that it has become the latest in a string of acquisitions by Oracle (Quote).

Ed Zou, Bridgestream’s vice president of marketing, told that both companies will make the announcement official sometime next week. He said the deal was actually consummated roughly two weeks ago but declined to comment on why both companies have kept the news to themselves until now.

“It’s very exciting,” Zou said. “We think it’s a perfect fit from an applications and technology perspective and with Oracle’s strength to go to market. It’s a good fit.”

Zou said the financial terms of the deal may or may not be disclosed next week when Oracle makes it official. Oracle representatives were not immediately available to comment on the acquisition.

Bridgestream, which was founded in 2000, makes software that helps companies figure out who does what within the organization. It tracks changes in personnel, responsibilities and job functions, giving users a holistic view of all the skills and expertise of its employees.

In June, Bridgestream unveiled its SmartRoles 3.0 software, a role-management application that enables customers to address governance and compliance needs across the entire IT infrastructure. It provides a single point of management for enterprise access to control policies to ensure employees are granted the right access to do their jobs at the right time.

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