Oracle Corp. said Monday it’s buying closely held Treasury Services Corp. for $120 million in cash, expanding beyond its market-leading database programs into financial software.
Treasury Services, which counts Chase Manhattan Corp. among its customers, makes programs that help financial institutions manage and analyze investments.
Oracle will take an unspecified charge for the acquisition in its fiscal first quarter, which ends Aug. 31.
The purchase will help boost the appeal of Oracle’s products to the financial industry, an area where the company lags rival Sybase Inc., analysts said.
Oracle, based in Redwood Shores, is the world’s top maker of software that helps companies manage big libraries of information and has been adding products that target specific industries.
Treasury’s customers include Chase, First Chicago and Bank One, the company said. Its software helps these customers measure the profitability of branches and products and manage their risk.
Oracle stock gained $1.25, to $56.12.
