Oracle buys 'cloud' service firm RightNow

Enterprise software giant Oracle said it had struck a deal to buy RightNow Technologies
Enterprise software giant Oracle said it had struck a deal to buy RightNow Technologies, which helps companies manage their cloud computing activities, for $1.5 billion.

Enterprise software giant Oracle said Monday it had struck a deal to buy RightNow Technologies, which helps companies manage their cloud computing activities, for $1.5 billion.

The $43 a share deal get a 14-year-old business which aims to make cloud computing work smoothly and efficiently for companies and their customers.

Bozeman, Montana-based RightNow said it had served nearly 2,000 organizations around the world.

Its most prominent product is its RightNow CX software, aimed at improving and enhancing the online experience of a company's customers.

Oracle Development's executive Thomas Kurian said the deal is part of Oracle's efforts to expand its cloud-computing services -- which allow companies to make use of files and applications based on the provider's servers via the Internet, rather than on their own servers.

"RightNow's leading customer-service cloud is a very important addition to Oracle's Public Cloud," Kurian said in a statement.

RightNow's shares shot up 19.1 percent to $42.85 after the announcement.


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Citation: Oracle buys 'cloud' service firm RightNow (2011, October 24) retrieved 21 February 2020 from https://phys.org/news/2011-10-oracle-cloud-firm-rightnow.html
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