Oracle today announced that it has signed an agreement to acquire Front Porch Digital, a provider of content storage management solutions that help companies migrate, manage and monetize large-scale media assets.
Front Porch Digital’s big data technologies help enterprises easily handle their rapidly expanding and complex volumes of digital media content, such as high definition films and TV shows, medical images and records, and real-time security monitoring feeds.
More than 550 organizations worldwide rely on Front Porch Digital across multiple industries to ensure the availability and accessibility of their valuable content, including A&E Television, BBC, Discovery Communications, U.S. Library of Congress and NASCAR. In total, Front Porch Digital helps manage over 750 petabytes of digital content.
Together, Oracle and Front Porch Digital will help organizations more effectively and efficiently manage the growing complexities associated with the migration, integration, storage, and delivery of rich media content.
“Organizations need a modern, integrated content storage management solution to manage and monetize their valuable rich media assets,” said John Fowler, Executive Vice President of Oracle Systems. “We will continue to build on Front Porch Digital’s success and unique capabilities, which complement Oracle’s existing high performance and scalable engineered storage solutions.”
“Front Porch Digital has developed industry leading solutions that help companies manage large-scale digital content,” said Mike Knaisch, CEO, Front Porch Digital. “We are thrilled to be joining Oracle to continue our long-standing partnership. This combination will enable us to better serve and support our customers at a global scale.”
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This document is for informational purposes only and may not be incorporated into a contract or agreement.
Contact: Ken Bond - Oracle Investor Relations
P: +1 650-607-0349 - E: ken.bond[.]oracle.com.
Oracle is currently reviewing the existing Front Porch Digital product roadmap and will be providing guidance to customers in accordance with Oracle’s standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle’s review of Front Porch Digital’s product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by Front Porch Digital or by Oracle, does not represent a commitment to deliver any material, code, or technology, and should not be relied upon in making purchasing decisions. It is intended for information purposes only, and may not be incorporated into any contract.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and Front Porch Digital, including statements that involve risks and uncertainties concerning Oracle’s proposed acquisition of Front Porch Digital, anticipated customer benefits and general business outlook. When used in this document, the words “anticipates”,“can”,“will”,“look forward to”,“expected” and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Front Porch Digital, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business may deteriorate and/or Oracle or Front Porch Digital may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Front Porch Digital. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor Front Porch Digital is under any duty to update any of the information in this document.