Oracle to Buy Another Utility Technology Provider

Apr 25, 2007

On the heels of closing on the Hyperion deal, Oracle buys meter data management provider Lodestar.

Oracle continued its shopping spree on April 24 when company officials announced plans to acquire Lodestar, a provider of meter data management for the utilities industry.

Lodestar is headquartered in Peabody, Mass., and has a list of customers that includes some of the largest energy companies in North America, Europe and Australia.

Financial conditions of the deal were not disclosed. The announcement comes on the heels of Oracle closing its $3.3 billion acquisition of Hyperion, which provides business intelligence software. But the move may be most closely related to Oracle's acquisition of SPL WorldGroup in 2006.

SPL WorldGroup's software, among other things, manages customer care and billing, mobile work force management, and outages and distribution management and asset management designed for electric, gas and water utilities.

The combination of Lodestar's complementary products with the suite of utilities applications acquired through SPL underscores Oracle's commitment to the utilities industry, Oracle officials said.

"With the addition of Lodestar's products, Oracle plans to deliver the most comprehensive suite of mission-critical operational systems for all segments of the utilities industry, combining meter data management, load profiling, pricing, marketing, sales, customer care, billing, analytics and management of the networks, work force, assets and business-to-business transactions," said Larry Hagewood, senior vice president and general manager at Oracle, in a statement.

Hagewood said that Oracle is putting utilities in control by simplifying their infrastructure, enabling greater business insight and aiding process improvement, which will increase customer satisfaction and loyalty.

"We expect our combined solutions will help facilitate the transformation of utilities to leading-edge infrastructure that creates operational efficiencies and competitive advantage for our customers."

Lodestar's Chairman and CEO Chris Hamilos called the planned acquisition an exciting chapter in his company's evolution.

"The natural synergies between Oracle's and Lodestar's premier product suites, coupled with Oracle's extensive research and development capacity, will enable us to further enhance our products and ensure our clients' continued success," Hamilos said.

The purchase is subject to customary conditions and is expected to close in May 2007. After the closing of the transaction, Oracle expects that Lodestar's employees will join Oracle's Utilities Global Business Unit.

Copyright 2007 by Ziff Davis Media, Distributed by United Press International

Explore further: AOL to feed more video, news to Microsoft's MSN

add to favorites email to friend print save as pdf

Related Stories

Social media tools can boost productivity

Aug 14, 2012

In this digital age, U.S. physicians still send and receive some 15 billion faxes a year. But not Dr. Howard Luks, chief of sports medicine and knee replacements at Westchester Medical Center in Valhalla, N.Y.

Tech-savvy put explosion of data to work

Nov 22, 2010

Sitting in a cafe in Sydney awhile back, Danny Kennedy and Andrew Birch mused about all the valuable free data Microsoft and Google float out on the Internet. In particular, they wondered if they could tap into the tech giants' ...

Twitter opening data center in Salt Lake City

Jul 22, 2010

(AP) -- Twitter Inc. has announced - in a tweet, of course - that it will build a huge data center in Utah, making it the latest company to set up computer-intensive operations in a state with cheap electricity and a business-friendly ...

Zooming in on data

Nov 03, 2009

(PhysOrg.com) -- Companies of all sizes are struggling with the growing flood of data and information. Staff can quickly lose sight of impending risks or hidden opportunities. Now a new zoom software is helping users get ...

Recommended for you

The New York Times to cut 100 newsroom jobs

1 hour ago

The New York Times Co. says it is cutting about 100 newsroom jobs through buyouts and layoffs in an effort to trim costs and focus more on its digital efforts.

What's PayPal's first solo move?

21 hours ago

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

Sep 30, 2014

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

User comments : 0