Oracle Buys NetSuite

Oracle has announced that it has entered into a definitive agreement to acquire NetSuite for approximately $9.3 billion.

In a joint press release, Oracle co-CEO Mark Hurd said that Oracle’s and NetSuite’s cloud applications are complementary, and will “coexist in the marketplace forever.”

NetSuite CEO Zach Nelson said NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of itscloud solutions in more industries and more countries.”

The proposed transaction is expected to close in 2016. Until the transaction closes, Oracle and NetSuite will continue to operate independently.

According to a FAQ sheet Oracle produced for its customers and partners, gaining access to Oracle’s tremendous resources and deep technology stack makes this combination a winner for NetSuite’s customers, employees and partners.

“We expect NetSuite to utilize Oracle’s global scale and reach to accelerate the availability of its cloud solutions in more industries and more countries,” the FAQ sheet reads.

Both Oracle and NetSuite made major acquisitions in 2015 to beef up their strength in marketing tools. In April, NetSuite acquired marketing automation platform Bronto Software for $200 million. In August, Oracle acquired personalization platform Maxymiser. Terms of that deal were not disclosed.

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