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 will implement the travel solution internally throughout North America, for use by more than 20,000 employees for self-service booking corporate travel reservations.
“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.”