TXTR Textura Corp. (delisted)

By Joshua Jamerson and Jay Greene 

Oracle Corp. on Thursday said it agreed to buy cloud-services provider Textura Corp., expanding the database giant's offerings for the construction industry with an emphasis on Web-based, on-demand computing services.

The acquisition bolsters Oracle's offerings for vertical industries, which include retailing, financial services, and advertising and marketing.

The transaction, at $26 a share in cash, valued the Deerfield, Ill., company at about $663 million, net of Textura's cash, Oracle said.

Oracle, based in Redwood Shores, Calif., is among the largest software providers to the construction industry, offering an array of products tailored to help contractors manage large projects. The Textura deal would expand its range of cloud-based tools such as online contracts and payment services.

Oracle is an aggressive acquirer, frequently picking up companies to fill out its offerings. in the past few years, it bought mobile-marketing startup Maxymiser Ltd. and advertising-analytics company Datalogix Inc. to build up its Web-based, on-demand computing services for marketers.

Oracle said it would combine Textura with its Oracle Primavera product-management software, which also focuses on construction, to form a single division. The unit would provide a cloud-based platform to manage all phases of engineering and construction projects, the company said.

Textura, which employed 580 people as of late last year, according to a regulatory filing, processes $3.4 billion in payments for more than 6,000 projects each month, Oracle said.

The transaction is expected to close this year.

An Oracle spokeswoman declined to comment on whether the company planned to lay off personnel or move Textura's operations.

Textura on Thursday reported results for the first quarter. The company said revenue for the quarter grew 28% to $24.7 million, higher than the $24 million analysts polled by Thomson Reuters were expecting.

Textura narrowed its loss to $1.5 million, or 6 cents a share, from $3.1 million, or 12 cents a share, a year ago. On an adjusted basis, the company earned 9 cents a share.

Write to Joshua Jamerson at joshua.jamerson@wsj.com and Jay Greene at Jay.Greene@wsj.com

(END) Dow Jones Newswires

April 28, 2016 14:54 ET (18:54 GMT)

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