NEW YORK, Dec 20 — Oracle Corp, the world’s No. 2 business software maker, said it would buy cloud-based marketing software maker Responsys Inc in a deal valued at US$1.5 billion (RM4.9 billion).
The offer of US$27 per share represents a premium of about 38 per cent to Responsys’ closing yesterday. Responsys shares were trading at US$26.94 on the Nasdaq today.
Responsys makes cloud-based software that businesses use to manage their marketing campaigns across e-mail, mobile and the Internet.
Oracle, led by Larry Ellison, is boosting its cloud software business to fend off competition from nimbler rivals such as Salesforce.com, who offer Internet-based software products at prices that often undercut Oracle.
The four-decade-old company has been rolling out its cloud-based products and has created sales teams targeting specific cloud competitors.
The deal with Responsys, which has been approved by the board of directors of Responsys, is expected to close in the first half of 2014.
Oracle shares were down marginally at US$36.65 in early trading on the New York Stock Exchange. — Reuters
