Oracle announced today that it has acquired Instantis, a provider of cloud-based and on-premis project portfolio management solutions.

The company will combine Instantis with its Primavera and Fusion Applications. Users will be able to track and report on enterprise strategies, like capital construction and maintenance, manufacturing, IT, new product development, Lean Six Sigma, and other corporate initiatives, the company says.

“Organizations realize the need for a more simplified approach to address project portfolio management initiatives – and yet most solutions are too complicated and expensive to deploy,” said Mike Sicilia, senior vice president and general manager, Oracle Primavera. “By adding Instantis, Oracle can help customers gain complete visibility and control of their mission-critical project initiatives using a top-down approach suited for projects throughout the entire organization.”

Instantis CEO and Founder Prasad Raje added, “Oracle’s acquisition of Instantis represents a strong endorsement of the EnterpriseTrack cloud-based technology and the value customers have achieved with our solutions. We’re excited to be a part of Oracle as we combine resources to help the business scale more rapidly.

Terms of the deal were not disclosed.