RightNow closed at $35.96 on Friday.
Oracle to Buy RightNow for $1.5 Billion
By EVELYN M. RUSLI
DealBook
New York Times
October 24, 2011, 8:45 am
Oracle said Monday it has agreed to acquire RightNow Technologies, a provider of Web-based customer service solutions, for $1.5 billion, as it looks to build out its portfolio of cloud-based offerings.
Under the terms of the deal, which is expected to close by early 2012, the enterprise software giant will pay RightNow’s shareholders $43.00 per share.
“Oracle is moving aggressively to offer customers a full range of cloud solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud,” Thomas Kurian, Oracle’s executive vice president of development, said in a statement on Monday.
The deal comes as Oracle tries to bolster its so-called cloud-based software services, which are available remotely via the web. Last week, the company purchased Endeca Technologies, a business intelligence software company, for an undisclosed amount. Endeca, which specializes in managing unstructured data, also offers Web-based products to help online retailers improve customer service.
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