Oracle has agreed to acquire Skywire Software's application software business. Skywire is a provider of insurance software and document management business applications.
Skywire's insurance software assists insurers in managing the life cycle of an insurance policy, including insurance policy creation, rating, insurance agent/broker management and information exchange solutions.
With Skywire and the pending acquisition of AdminServer, Oracle is expected to accelerate the formation of a complete software suite for the insurance enterprise to include Oracle's database and middleware for technical infrastructure, Oracle applications to support general business, insurance-specific functionality in Oracle Billing, Siebel Claims, Siebel CRM and Insure, plus Skywire Software and AdminServer to further support insurance policy life-cycle management.
"Insurance is a strategic industry for Oracle with growth focused on integrated packaged applications," says Oracle president Charles Phillips. "Insurance applications, such as Skywire Software's for insurance policy life cycle management, help insurers navigate an increasingly complex business environment. Adding Skywire Software to our growing portfolio of insurance software products further accelerates our investment in and commitment to providing the most modern and complete software solutions for this industry."
Skywire Software employees and management are expected to join the Oracle Insurance Global Business Unit together with the pending acquisition of AdminServer. Skywire's 1,450 insurance customers will add increased scale to Oracle's existing base of over 1,000 insurers.
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