Oracle To Buy RightNow For $1.5 Billion
Oracle continues its push into the cloud computing market with an agreement to acquire RightNow Technologies for $1.5 billion ($43 per share). RightNow offers a slew of customer service tools designed to make interactions between its clients and their customers “rewarding and beneficial”, to quote the RightNow website. The company’s products and services will give Oracle plenty of instant new customers, as well as a ready-to-go service to battle Oracle’s cloud competitors in that particular space.
In a press release, Thomas Kurian, Executive Vice President, Oracle Development, said "Oracle is moving aggressively to offer customers a full range of Cloud Solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud. RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud."
RightNow’s board has approved the acquisition, which is expected to close at the end of 2011 or early 2012.
Redwood Shores, CA – October 24, 2011
Oracle today announced that it has entered into an agreement to acquire RightNow Technologies, Inc. (NASDAQ: RNOW), a leading provider of cloud-based customer service, for $43.00 per share or approximately $1.5 billion net of RightNow's cash and debt. RightNow's Customer Service Cloud helps organizations deliver exceptional customer experiences across call centers, the web and social networks. Together, Oracle and RightNow can enable a superior customer experience at every contact and across every channel.
The Board of Directors of RightNow Technologies has unanimously approved the transaction. The transaction is expected to close by late 2011 or early 2012, subject to RightNow stockholder approval, certain regulatory approvals and customary closing conditions.
"Oracle is moving aggressively to offer customers a full range of Cloud Solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud," said Thomas Kurian, Executive Vice President, Oracle Development. "RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud."
"RightNow’s products add leading customer experience capabilities that help empower companies to interact with and provide a consistent experience to customers across channels," said Greg Gianforte, CEO, RightNow. "We look forward to combining our complementary capabilities along with maintaining and expanding our presence in Bozeman, Montana in order to better service our customers."
More information on this announcement can be found at http://www.oracle.com/rightnow.
In a press release, Thomas Kurian, Executive Vice President, Oracle Development, said "Oracle is moving aggressively to offer customers a full range of Cloud Solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud. RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud."
RightNow’s board has approved the acquisition, which is expected to close at the end of 2011 or early 2012.
Oracle Buys RightNow
Adds Leading Customer Service Cloud Offering to Oracle’s Public Cloud
Redwood Shores, CA – October 24, 2011
Oracle today announced that it has entered into an agreement to acquire RightNow Technologies, Inc. (NASDAQ: RNOW), a leading provider of cloud-based customer service, for $43.00 per share or approximately $1.5 billion net of RightNow's cash and debt. RightNow's Customer Service Cloud helps organizations deliver exceptional customer experiences across call centers, the web and social networks. Together, Oracle and RightNow can enable a superior customer experience at every contact and across every channel.
The Board of Directors of RightNow Technologies has unanimously approved the transaction. The transaction is expected to close by late 2011 or early 2012, subject to RightNow stockholder approval, certain regulatory approvals and customary closing conditions.
"Oracle is moving aggressively to offer customers a full range of Cloud Solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud," said Thomas Kurian, Executive Vice President, Oracle Development. "RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud."
"RightNow’s products add leading customer experience capabilities that help empower companies to interact with and provide a consistent experience to customers across channels," said Greg Gianforte, CEO, RightNow. "We look forward to combining our complementary capabilities along with maintaining and expanding our presence in Bozeman, Montana in order to better service our customers."
More information on this announcement can be found at http://www.oracle.com/rightnow.
