Thursday, July 28, 2016

Oracle buys enterprise cloud services company NetSuite for $9.3B

The Oracle headquarters is shown in Redwood City, Calif., Monday, June 18, 2012. Oracle reported Monday that it earned $3.45 billion, or 69 cents per share, for the three months ending in May. (AP Photo/Paul Sakuma) 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 NetSuite’s 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 Oracle’s offerings… Read More

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