Irvine-based business software maker LogicalApps Inc. has been acquired by Oracle Corp.
Terms of the deal weren’t disclosed.
Privately held LogicalApps sells software that helps companies automate financial controls and compliance with the Sarbanes-Oxley accounting reform act of 2002.
“Regulatory compliance and the associated risk is a top priority for business executives today,” Oracle President Charles Phillips said.
LogicalApps started in 2000 and raised $14 million in funding in 2005.
Chris Capdevila cofounded LogicalApps. The company started after Capdevila worked as a consultant at Price Waterhouse Management Consulting Services. He helped install large software systems, including from Oracle, for companies such as Walt Disney Co.
When companies switched to Oracle, they got rid of older, custom software with its own set of internal controls to regulate who has access to sensitive data or how information is distributed.
LogicalApps was started to fill the gap, according to Capdevila, who now works as senior vice president for strategy and business development.
The company’s customers include Agilent Technologies Inc. and Motorola Inc.
