Oracle Buys RightNow for $1.5 Billion to Expand Cloud Computing
October 24, 2011, 8:45 AM EDTBy Cecile Daurat
Oct. 24 (Bloomberg) -- Oracle Corp., the world’s second- largest software maker, agreed to buy RightNow Technologies Inc. for about $1.5 billion to expand its offering of Internet-based services.
Oracle, based in Redwood City, California, will pay $43 per RightNow share, according to a statement today. The transaction may close by late 2011 or early 2012, Oracle said.
The acquisition will add RightNow’s so-called cloud computing offering, which helps organizations deliver services across call centers, the Internet and social network.
Oracle gained 0.3 percent to $32.23 at 8:10 a.m. New York time before the opening of the markets.
--Editors: Cecile Daurat, Ville Heiskanen
To contact the reporter on this story: Cecile Daurat in Wilmington at cdaurat@bloomberg.net
To contact the editor responsible for this story: Cecile Daurat at cdaurat@bloomberg.net
