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Oracle has bought big data firm DataRaker and, in turn, acquired a cloud-based platform for analysing data from gas and electric utilities.
Oracle said the deal means it can now extend its reach into the energy sector and offer customers deeper analytical big data services. The terms of the deal remain undisclosed.
Smart meters are increasingly being used within the energy industry to give greater insight into customer demand.
Oracle can now sell into these customers a product that crunches through the vast data sets created by these meters, as Dataraker's technology is combined with Oracle's utilities application offerings.
The move gives Oracle a number of "high-performance, pre-packaged applications that can address many complex analytical challenges currently being faced by the utilities industry," the company said in a statement.
Rodger Smith, senior vice president and general manager of Oracle Utilities, said the big data created by smart meters and sensors has presented utilities with "an enormous opportunity to improve operations and deliver better customer service by acting on the unique insights that can only be found by understanding the massive amounts of data coming from their customers and networks.
“With DataRaker, Oracle can provide customers a complete and integrated set of products to further unlock efficiencies and create data insights that maximise business value," he added.
Staff at DataRaker will now become part of Oracle Utilities. Its software has been rolled out at a number of utility companies and covers more than 17 million smart meters around the world.