Oracle To Buy Cloud-Software Provider NetSuite For $9.3 Billion (bloomberg.com)

Posted by msmash on Thursday July 28, 2016 @02:43AM from the big-shark-small-shark dept.

Oracle announced Thursday that it has agreed to buy NetSuite for $9.3 billion, in a move to bolster its cloud-computing offerings as it races to catch up to rivals. Both companies provide applications for running a business called enterprise-resource-planning software. Bloomberg reports: Oracle, which sells software to big corporations, has been trying to shift more sales to cloud-based products increasingly demanded by its customers. New cloud services made up about 8 percent of the company's total sales during its fiscal fourth-quarter. Buying NetSuite -- whose products include customer relationship management software -- will help Oracle compete against the likes of Salesforce.com Inc. and Microsoft Corp. "Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever," said Oracle co-Chief Executive Officer Mark Hurd in a statement Thursday. "We intend to invest heavily in both products -- engineering and distribution."

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Thought they were already owned b Oracle. by GrBear · 2016-07-28 06:10 · Score: 3, Informative

When we bought into NetSuite 8 years back, we were told they were owned by Oracle.
I wonder if they got sold, and then now being bought back.
Honestly though, NetSuite's service has been getting worse and worse every update. For the price they charge (not to mention nickle and dime you for most feature), who could not think they were already owned by Oracle.