Oracle buying Responsys for about $1.39 billion

Dec 20, 2013

Oracle is buying cloud-based business-to-consumer marketing software company Responsys for about $1.39 billion.

Oracle, which also makes , said that the deal will extend its offerings of cloud businesses. It already offers cloud-based opportunities for sales, commerce, service, social and marketing activities.

Earlier this week, Redwood Shores, California-based Oracle reported that its fiscal second-quarter net income edged down slightly, hurt by flat revenue from new software licenses and cloud subscriptions. The performance still beat Wall Street's view.

Under the deal announced Friday, Oracle will pay $27 per Responsys Inc. share, a 38 percent premium to the company's Thursday closing price of $19.52.

Responsys' board unanimously approved the deal. The acquisition is targeted to close in the first half of next year.

Responsys currently has approximately 51.4 million outstanding shares, according to FactSet. The companies put the transaction's value at about $1.5 billion.

The companies will continue to operate independently until the buyout is complete.

Responsys shares climbed $7.38, or 38 percent, to $26.90 in morning trading Friday. Oracle Corp.'s stock added 3 cents to $36.63.

.

Explore further: Oracle fiscal 2Q net income falls slightly (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Oracle fiscal 2Q net income falls slightly (Update)

Dec 18, 2013

Oracle's fiscal second-quarter net income edged down slightly, hurt by flat revenue from new software licenses and cloud software subscriptions, but still managed to beat Wall Street predictions.

SAP to buy Ariba for $4.5B, extending cloud push

May 22, 2012

(AP) -- Business software maker SAP AG on Tuesday said it will buy Ariba Inc., which makes Web-based software that connects suppliers and buyers online, for about $4.51 billion.

Oracle's fiscal 4Q sales disappoint Wall St. again

Jun 20, 2013

Oracle is still having trouble closing enough business software deals to keep Wall Street happy. The quarterly results announced Thursday could escalate investors' fears about Oracle's ability to adapt to the changing demands ...

Recommended for you

Apple's fiscal 3Q earnings top analyst forecasts

2 hours ago

Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen.

Verizon 2Q profit rises 93 percent

10 hours ago

Verizon reported Tuesday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless.

Ex-Qualcomm exec pleads guilty to insider trading

Jul 21, 2014

A former high-ranking executive of US computer chip giant Qualcomm pleaded guilty Monday to insider trading charges, including trades on a 2011 deal for Atheros Communications, officials said.

User comments : 0