Oracle buys enterprise cloud services company NetSuite for $9.3B
Oracle will acquire NetSuite for about $9.3 billion, or $109 per share in an all-cash deal, the companies announced Thursday. Both Oracle and NetSuites cloud service offerings aimed at enterprise customers will continue to operate and coexist in the marketplace forever, according to a statement by Oracle CEO Mark Hurd.
Hurd called NetSuite and Oracles offerings complementary in the release, adding that Oracle intends to continue to invest in the engineering and distribution aspects of both companys products going forward.
Eighteen-year-old NetSuite claims a dominant position in the cloud enterprise resource planning (ERP) space, whoch includes offerings to help businesses track supply and demand, inventory, accounting, customer relationships (CRM) and HR. The ERP industry has been an active space for M&A and general consolidation over the past few years, and Oracle in general has been an aggressive acquirer of smaller companies throughout 2016, with recent pick-ups including Opower and Textura. Oracles acquisition of NetSuite dwarfs its previous 2016 acquisitions in total deal value, though it still ranks below the all-time leader PeopleSoft, whoch Oracle acquired for a heady $10.3 billion way back in 2004, when such stratospheric values were even more uncommon.
Källa: Oracle buys enterprise cloud services company NetSuite for $9.3B | TechCrunch
