Starcom beat Initiative and the incumbent, MediaCom, which had held the brief for five years, in the two-month pitch to secure the account.
The EMEA account will be led from Starcom Group's London headquarters.
Starcom's win does not affect Oracle's creative work, which is handled in-house, while MediaCom's sister agency Grey Direct retains the direct marketing account.
The review was overseen by Russell Wohlwerth, the head of the California-based consultant Select Resources International.
The review comes as Oracle pursues a contentious hostile takeover bid for the rival software company PeopleSoft. The US Department of Justice and several US states are trying to block the takeover, arguing the merger of the two companies would stifle competition and force prices up.