Oracle Acquires NetSuite
What’s Trending? Mergers and Acquisitions
Mergers and acquisitions appears to be in trend lately in the Cloud world, as today, Oracle another big name in the software industry announced its acquisition of NetSuite the very first cloud company.
Oracle the software giant that offers comprehensive and fully integrated stack of cloud applications and platform services to its customers will be able to serve its customers even more with NetSuite.
NetSuite is the leading integrated cloud business software suite, the company provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software for over 30,000 companies, organizations, and subsidiaries in more than 100 countries.
“Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” said Mark Hurd, Chief Executive Officer, Oracle.
As disclosed by NetSuite, the transaction was unanimously approved by the Board of Directors of NetSuite, based on the unanimous recommendation of the Transaction Committee.
According to Evan Goldberg, Founder, Chief Technology Officer and Chairman of NetSuite, customers, employees and partners can expect to win from this merger.