Home › Oracle to buy NetSuite for USD 9.3 billion
 

Keywords :   


Oracle to buy NetSuite for USD 9.3 billion

2016-07-28 15:37:00| Telecompaper Headlines

(Telecompaper) Oracle is accelerating its push into cloud services with the agreed takeover of NetSuite for USD 9.3 billion. Oracle said NetSuite pioneered the idea of cloud computing for business applications already in 1998. NetSuite provides a suite of cloud-based financials, ERP and omnichannel commerce software that services more than 30,000 companies and organizations in more than 100 countries. The acquisition was approved by a committee of independent Oracle directors and is expected to add immediately to the company's adjusted earnings. Oracle is offering USD 109 per share for NetSuite, a 19 percent premium on the share price the day before the announcement. Oracle aims to complete the takeover before the end of the year.

Tags: buy usd oracle billion

Category:Telecommunications

Latest from this category

All news
»
16.05Eastern North Pacific Tropical Weather Outlook
16.05Atlantic Tropical Weather Outlook
16.05The man who turned his dead father into a chatbot
16.05Firms leaving UK 'not a crisis' says stock market boss
15.05Exploring the future of agriculture
15.05American, Mexican, and Canadian cattle producers sign joint statement
15.05Attitudes EWG Verified Skincare Line Oceanly Expands with SPF Offerings
15.05Sherwin-Williams Packaging Coatings Expands Non-BPA Coatings Production in Europe
More »