Oracle Corp. announced that it has agreed to acquire Irvine-based Relsys International Inc., a developer of drug safety and risk management software for the health care industry, which will become part of its Health Sciences Global Business Unit.

Financial terms of the acquisition were not disclosed. Relsys was founded in 1987; its products are used for adverse event reporting, risk management, and data analysis for pharmaceutical, biotechnology, contract research organizations and medical device companies.

“With the addition of Relsys, Oracle is uniquely positioned to help our customers improve drug safety by delivering a comprehensive software solution that enables our vision of integrated safety and risk management supported by advanced analytics,” said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences.

The combination of Oracle and Relsys is expected to deliver the only suite of software applications that supports end-to-end drug safety processes across clinical development, post-market surveillance and patient care.

The transaction is subject to customary closing conditions and is expected to close in the first half of calendar year 2009

Additionally, Oracle and LumenData joined in an agreement to co-develop Oracle Master Data Management (MDM) products tailored for higher education institutions.

LumenData is a consulting and product development firm, with offices in Redwood City, CA, Denver, CO and Bangalore, India.

The company said the planned solutions should enable higher education institutions to create complete, accurate, and single views of their constituents, which include applicants, students, employees, alumni, teachers and workers. These records will feed the numerous systems on campus with trusted constituent data.

“To manage the ever changing needs of a broad range of constituents, higher education institutions need to be able to seamlessly integrate applications and data to maximize existing IT investments and drive value for their end-users. Our agreement with LumenData is focused on meeting these challenges and demonstrates our commitment to Higher Education,” said Pascal Laik, vice president, MDM, Oracle.