Oracle buys 'cloud' service firm RightNow
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 Oracle 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 vice president 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.
(c) 2011 AFP