|Oracle To Buy RightNow For $43/Shr Or $1.5 Billion |
Here they go again.
Oracle is jumping back into the M&A business, this morning announcing a deal to acquire cloud-based customer service software provider RightNow Technologies for $43 a share, or about $1.5 billion net of cash and debt.
The company said the the deal has been approved by the RightNow board, and should close by late 2011 or early 2012, subject to holder approval and certain regulatory approvals.
“Oracle is moving aggressively to offer customers a full range of cloud solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud,” Oracle VP Thomas Kurian said in a statement. “RightNow’s leading customer service cloud is a very important addition to Oracle’s Public Cloud.”
RNOW this morning is up $6.90, or 19.2$, to $42.86.
ORCL is down 14 cents, or 0.4%, to $31.98.