Oracle has agreed to acquire Lodestar Corporation, a provider of meter data management and competitive energy solutions for the utilities industry. The combination of Lodestar's complementary products with Oracle's suite of utilities applications acquired through SPL WorldGroup and now offered by Oracle's Utilities Global Business Unit underscores Oracle's commitment to the utilities industry.
The transaction is subject to customary conditions and is expected to close in May 2007. Financial details were not disclosed. After the closing of the transaction, Oracle expects that Lodestar's employees will join Oracle's Utilities Global Business Unit.