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The software giant Oracle on Sunday announced it will develop a new student information system with a focus on mobile and social features, and provide it as software-as-service.

"No other company on the planet can draw on the rich portfolio of IP, development talent, deployment and implementation experience, and industry expertise than Oracle," Cole Clark, Oracle's global vice president for education and research, said in a blog post. "While I've said in this blog in the past that it's a very exciting time to be a part of the higher education IT ecosystem at this point in the industry's evolution, our focus on developing a modern SIS for higher ed of 2015 and beyond makes this period even more compelling."

Oracle and other enterprise resource planning software providers have recently been challenged by new entrants into the market, such as Workday and Kuali, who have promised more flexible and lightweight student information systems.