Home / Trending / Oracle buys enterprise cloud services company NetSuite for $9.3B
Oracle-news

Oracle buys enterprise cloud services company NetSuite for $9.3B

Oracle

CEO :- Mark Hurd

Oracle can be said a champion of network computers.

It was the world’s first software company to develop and deploy 100 percent Internet-enabled enterprise software across its entire product line: database, server, enterprise business applications, and application development and decision support tools.

The all-time leader – PeopleSoft, which Oracle acquired for a heady $10.3 billion way back in 2004.

  • Recently it was announced on 28 July 2016 ,Oracle will acquire NetSuite  for about $9.3 billion, or $109 per share in an all-cash deal.
  •  According to the statement made by CEO “ Both Oracle and NetSuite’s cloud service offerings aimed at enterprise customers will continue to operate and “coexist in the marketplace forever,”
  • In coming forward  years Oracle tends to continue and invest in the engineering  and distrution aspects of both the company’s.
  • Netsuite is 18- year old and claim a dominant position in the cloud enterprise resource planning (ERP) space, It  includes offerings to help businesses track supply and demand, inventory, accounting, customer relationships (CRM) and HR.
  • Over the past years The ERP industry has been an active space for M&A and general consolidation.

 

Oracle-news

 

Leave a Reply

Your email address will not be published. Required fields are marked *