Oracle announced plans to acquire substantially all of the assets of Skire, a provider of capital program management and facilities management applications available both in the cloud and on-premise. Terms of the agreement were not disclosed.

The announcement follows recent comments from Oracle CEO Larry Ellison that the company’s Oracle Cloud Social Services was “the most comprehensive cloud on the planet Earth.”

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Oracle’s latest incursion into cloud is expected to create a full lifecycle enterprise project portfolio management (EPPM) platform designed to provide a comprehensive offering from capital planning and construction to operations and maintenance for owners and operators, contractors and sub-contractors.

Skire’s software provides a set of management and governance tools across project phases from planning and building to operations, designed to allow companies to manage their capital and construction programs. The software maker said it will combine Skire with industry leading capabilities from Oracle’s Primavera products.

Announced on June 6, the Oracle Cloud followed “an investment of billions and almost seven years of relentless engineering and innovation plus key strategic acquisitions.” It is a broad enterprise social platform offering, including its first three corporate applications: customer retention management, human capital management and enterprise social networking.

In an interview to InfoWorld, Oracle Co-President Mark Hurd noted “we’re at a point that’s going to be a pretty dramatic change. First, the IT industry now is $1.8 trillion, something like that. A little less than half of that is enterprise. Inside the enterprise, a little more than half of that is services. The other half is product. I think this is going to change dramatically.”

Oracle has reportedly made a $5 billion, seven-year commitment to its Cloud offering.