Oracle has entered into a definitive agreement to acquire NetSuite in a transaction valued at US $109.00 per share in cash, or approximately $9.3 billion. The transaction is expected to close in 2016 subject to receiving certain regulatory approvals.
“Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” said Mark Hurd, CEO, Oracle. “We intend to invest heavily in both products – engineering and distribution.”
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