Oracle Corporation (NYSE:ORCL) Buys Bitzer Mobile
The $163 billion market capped hardware to applications provider Oracle Corporation (NYSE:ORCL) was one of the first major players in the IT industry which consciously employed the mergers and acquisition route to increase its product portfolio and emerge as a one stop shop for all the IT related needs of its customers.
Oracle on the Prowl
In its continued approach of acquiring new tech firms to provide what customer demands, Oracle has gone in for another low key buyout of a tech firm. The market leader in the database space announced on November 15 that, “ it has acquired Bitzer Mobile, a provider of mobile applications management solutions that allow organizations to provide employees access to corporate data and applications from their mobile devices, to address the growing security needs created by the ‘bring your own device’ trend among corporate employees. The transaction has closed.”
While neither Oracle Corporation (NYSE:ORCL) or Bitzer Mobile have come forward with the financial details of the buyout, in the recent past the three year old tech firm Bitzer had managed to raise close to $4.8 million in form of strategic investments from venture capitalists and institutional investors.
The Back Drop to the Buy Out
The acquisition of this niche security solution Oracle Corporation (NYSE:ORCL) gains importance because security analysts have commented that many corporate IT set ups are being overwhelmed in their efforts to continue to provide air tight security for their enterprise IT architecture in the light of more and more employees bring in their own devices like super powerful smart phones and tablets into their work space.
Having recognized the huge potential which exists in this nascent security solution stream, it seems like Oracle decided to buy out a mature product provider and start to build on the same rather than reinvent the wheel and try to build its own product offering.