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Oracle agrees to buy software company AdminServer



13 May 2008 @ 09:24 am EST

REDWOOD SHORES, Calif. (AP) - Business software maker Oracle Corp. said Tuesday it agreed to buy insurance policy software supplier AdminServer Inc.

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AdminServer will become a business unit of Redwood Shores, Calif.-based Oracle.

The companies did not disclose the terms of the deal, which they expect to close in the first half of 2008.

Chester, Penn.-based Adminserver had sales of $25 million in 2007 and employs 250 people.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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