Oracle Acquires Lodestar

Oracle has announced that it has agreed to acquire Lodestar, a provider of meter data management and competitive energy solutions for the utilities industry.

The combination of Lodestar"s products with Oracle"s suite of utilities applications acquired through SPL WorldGroup are now offered by Oracle"s Utilities Global Business Unit.

“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, Oracle Utilities Global Business Unit. “Oracle is putting utilities in control by simplifying their infrastructure, enabling greater business insight, aiding process improvement and increasing customer satisfaction and loyalty.”"

The transaction is subject to customary conditions and is expected to close in May 2007. Financial details were not disclosed.