Oracle one of the IT giants has agreed to buy Eloqua Inc, a web based automation software firm. Oracle acquired Eloqua Inc. for about $810 million and seeks expansion in cloud-computing. Eloqua’s cloud based application will become the centerpiece of Oracle which is designed for marketing departments and organizations. Oracle has agreed to pay $23.50 per share, this agreement would mean a commitment of $871 Million. Eloqua sold shares for $11.50 in the month of August as initial public offering and closed the offer at $17.92 by giving
premium of 31.1 percent.
Eloqua’s Chief Executive Officer Joe Payne wrote company’s blog, “The Oracle-Eloqua combination will create a customer experience cloud offering which helps organizations transform the way they market, sell, support and serve their customers”
Nucleus Research analyst Rebecca Wattermann’s strong sales force automation products and the recently acquired Right Now call center automation solution. We would expect Oracle to continue to make acquisitions in this space, to bolster its Fusion Applications suite and respond to competitive pressure in the applications market from SAP and Salesforce.co.
This acquisition deal is expected to close in the first half of 2013, first Eloqua shareholders must approve the deal. Data Center Talk updates its resources everyday. Visit us to know of the latest technology and standards from the data center world.
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