US multinational
Oracle has announced that has closed its acquisition of software services provider NetSuite Inc. (NetSuite). Oracle, which has headquarters in San Mateo, California, United States, offers a wide range of fully integrated cloud applications and platform services. These include database (including MySQL and Oracle NoSQL database solutions), big data options, and applications for a range of areas including supply chain management. It also offers operating systems, business analytics and data integration options. Its acquisition of NetSuite cost the company $9.3 billion with 53% of shares owned by stockholders.
Cloud computing company NetSuite also has headquarters in San Mateo, California, United States and offers a range of cloud-based software solutions designed for business. These include ecommerce, ERP, and CRM options. Originally announced July 2016, Oracle’s acquisition will enable Oracle to enhance its suite of services with NetSuite's cloud financial management solutions.
Oracle’s 2017 fiscal revenues reached $8.6 billion with cloud revenues increasing 59%. “NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries. We are excited to join Oracle and accelerate our pace of innovation,” explained NetSuite’s Chief Executive Officer Zach Nelson when the deal was first announced.
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