Oracle Buys Automated Applications Controls Leader LogicalApps
By admin - Posted on October 10th, 2007
Strengthens Oracle’s Governance, Risk and Compliance Suite with Real-time Policy Enforcement
REDWOOD SHORES, Calif.,09-OCT-2007 -- Oracle announced today that it has agreed to acquire LogicalApps, a leading provider of automated Governance, Risk and Compliance (GRC) controls management solutions. The acquisition will strengthen Oracle's GRC application suite by integrating real-time policy enforcement for critical business processes.
LogicalApps delivers out-of-the-box automated application controls in the areas of access, setup and transaction monitoring. Its technology helps enforce proper segregation of duties in enterprise applications, reduces fraud using preventative controls, and provides evidence of a proper control environment. LogicalApps' portfolio of control management solutions is expected to further strengthen Oracle's comprehensive GRC applications suite, which helps customers manage compliance with multiple regulations, control IT and business process risk, and monitor GRC objectives and results.
"Regulatory compliance and the associated risk is a top priority for business executives today," said Oracle President Charles Phillips. "This acquisition underscores Oracle's commitment to building a comprehensive, open and integrated GRC application suite. Companies will now be able to simplify compliance with multiple, complex regulatory requirements while improving business operations."
"Customers will see immediate value with the combination of Oracle and LogicalApps," said LogicalApps Founder, Chris Capdevila. "LogicalApps' solutions are optimized for Oracle Applications and we have hundreds of successful deployments. The integration of real-time policy enforcement into Oracle's GRC application suite will deliver a closed-loop solution that manages enterprise-wide GRC processes and proactively mitigates business risk."
The transaction is subject to customary conditions and is expected to close by November 2007. Financial details were not disclosed. More information is available at http://www.oracle.com/LogicalApps.
About Oracle
Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com
Source: Oracle
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