Oracle takes over software maker Responsys ina $1.39 billion bid
The world's No. 2 business software maker, Oracle, said that it would buy web-based marketing software maker Responsys for about $1.39 billion to strengthen its cloud computing offerings.
According to a statement today, Oracle will pay $27 a share in cash for Responsys, a 38 percent premium over its closing price yesterday. The transaction is expected to close in the first half of next year.
The California-based company is adding to its collection of marketing software as it tries to boost growth and square off against Salesforce. com Inc. and Adobe Systems Inc. in courting spending by chief marketing officers, who sit outside traditional information-technology departments.
Responsys which is based in San Bruno, California, makes software that lets businesses including Nordstrom Inc. and Southwest Airlines Co. tailor e-mail campaigns to consumers and track how the ads perform.
Oracle, which is led by billionaire Larry Ellison, has been focusing on cloud software to fend off competition from nimbler rivals such as Salesforce. com and Workday, which offer web-based products at prices that often demean Oracle.
Oracle, which is four decades old, came late to cloud computing and has created sales teams targeting specific cloud competitors and is trying to be a one-stop shop for operating systems, databases and software programs over the web.
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