Deals
Oracle Purchase of NetSuite Will Help It Vie With Cloud Rivals
- Offer is for $109 a share, will be ‘immediately accretive’
- Will help Oracle better compete with Salesforce, Microsoft
Oracle to Buy Cloud Services Provider NetSuite
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Oracle Corp., lagging the competition in cloud-based services, is essentially buying market share with its $9.3 billion acquisition of NetSuite Inc.
Oracle has been trying for years to shift from selling software installed on corporate customers’ gear the old way to delivering it over the internet. Yet in its most recent quarter, the company said the cloud division accounted for less than 10 percent of sales. Buying NetSuite, one of the first cloud-services companies, will help Oracle compete against the likes of Salesforce.com Inc., Microsoft Corp. and SAP SE.