Oracle buys Portal Software for $220M

Oracle is getting into the communications billing business through a $220 million cash acquisition of billing provider Portal Software. Oracle President Charles Phillips said the acquisition will deliver "the first end-to-end packaged enterprise software suite for the communications industry." Oracle has been on quite a buying spree, making four strategic acquisitions alone in 2006 and 13 in 2005. Oracle is working to transition itself from a build-it-here vendor to one that's relying on acquisitions to expand its applications business.

To read more about Oracle's purchase of Portal Software:
- check out this release from the companies