Business software maker Oracle buying Responsys for about $1.39 billion
REDWOOD SHORES, Calif. - Oracle is buying cloud-based business-to-consumer marketing software company Responsys for about $1.39 billion.
Oracle, which also makes business software, said that the deal will extend its offerings of cloud businesses. It already offers cloud-based opportunities for sales, commerce, service, social and marketing activities.
Earlier this week, Redwood Shores, Calif.-based Oracle reported that its fiscal second-quarter net income edged down slightly, hurt by flat revenue from new software licenses and cloud software subscriptions. The performance still beat Wall Street's view.
Under the deal announced Friday, Oracle will pay $27 per Responsys Inc. share, a 38 per cent premium to the company's Thursday closing price of $19.52.
Responsys' board unanimously approved the deal. The acquisition is targeted to close in the first half of next year.
Responsys currently has approximately 51.4 million outstanding shares, according to FactSet. The companies put the transaction's value at about $1.5 billion.
The companies will continue to operate independently until the buyout is complete.
Responsys shares climbed $7.38, or 38 per cent, to $26.90 in morning trading Friday. Oracle Corp.'s stock added 3 cents to $36.63.
Read more Business News
- Garneau talks to veteransKelowna - 8:45 am
- Water AdvisoryCentral Okanagan
- Castanet's week in reviewKelowna - 5:00 am
- 'Hurricane' Carter dies at 76Canada - 8:04 am
|QHR Technologies Inc||1.29||+0.07|
|Anavex Life Sciences||0.375||0.00|
|Copper Mountain Mining||2.35||-0.07|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||+0.02|
With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...