Oracle acquires e-marketplace patent
Oracle has acquired Strategic Processing Corp (SPC) in an effort to boost its e-marketplace portfolio.
Oracle has acquired Strategic Processing Corp (SPC) in an effort to boost its e-marketplace portfolio. The little known company is the proud possessor of a US patent entitled "Interactive Market Management System", which is believed to be “a seminal patent in the area of interactive, on-line marketplaces.”
"This patent enhances Oracle's intellectual property portfolio and complements our leading marketplace products," said Kevin Miller, Oracle vice president for Internet Procurement and Exchange products.
Eyal Shavit and Lester Teichner, co-inventors of the patent, describe a raft of achievable efficiencies in the patent brief. "Dramatic new efficiencies can be provided by the configuration of on-line interactive concurrent electronic services which creates a marketplace which can serve a wide spectrum of buyers, wholesales, distributors, suppliers, agents, and other service providers within an industry or multiple industries, as well as to freight, financial, and other services deployed over any number of existing communications systems," it says.
"We are thrilled that the significance of the inventions set forth in the '156 patent have been recognised by Oracle," said Lester Teichner, president of SPC and co-inventor on the patent. "As the recognised leader in on-line marketplaces, Oracle should be able to obtain significant benefit from the patent for itself and its customers."