Oracle Acquires E-Travel To Boost E-Commerce
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In an attempt to build its e-commerce resources, Oracle Corp. Tuesday acquired E-Travel Inc., a corporate travel management company.
Under terms of the acquisition, members of E-Travel's management team will retain their current positions, and E-Travel will become a separate business unit within Oracle Corp. No financial specifics were disclosed.
The company's flagship solution, E-TRAVEL System, allows end users to plan and book corporate travel using a standard Web browser. Currently it is in use by more than 200 corporate customers including The Coca-Cola Co., Fidelity Investments Ltd., First USA Bank One Co. and Philip Morris Management Co.
As a result of the acquisition, it will be renamed Oracle eTravel, and will be integrated with Oracle's travel reimbursement solution, Oracle Self-Service Expenses, as well as with Oracle Business Intelligence System, and other modules of Oracle Applications.
"Oracle and E-Travel share a vision that the Internet truly changes the way business is conducted," said Ron Wohl, senior vice president, Oracle Applications Development.
"E-Travel brings tremendous domain expertise in the travel industry as well as a strong product that integrates easily with our Self-Service Expenses product. Together, we will be first to offer an integrated solution that helps companies streamline and manage their travel management operations as well as dramatically reduce one of their major expense areas."