Oracle Announces Definitive Agreement to Acquire NetSuite at 9.3 Billion

Oracle Announces Definitive Agreement to Acquire NetSuite at 9.3 Billion

Oracle announced that it has entered into a definitive agreement to acquire NetSuite, the very first cloud company. The transaction is valued at $109.00 per share in cash, or approximately $9.3 billion. Netsuite offers a collection of software services used to manage a business’s operations and customer relations.

“Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” said Mark Hurd, Chief Executive Officer, Oracle. “We intend to invest heavily in both products—engineering and distribution.”

NetSuite and Oracle go way back; In 1998 Evan Goldberg received approximately $125 million in initial financial backing from Larry Ellison, founder and chief executive officer of Oracle Corp, through Ellison’s venture capital entity, Tako Ventures. The relationship continues on a new path that will elevate NetSuite’s solution availability worldwide,as NetSuite will help Oracle capture more business in smaller companies and compete better with new SaaS companies.

“NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries,” said Zach Nelson, Chief Executive Officer, NetSuite. “We are excited to join Oracle and accelerate our pace of innovation.”

NetSuite sells what is called enterprise resource planning software that businesses use to track inventory and manufacturing processes and perform accounting tasks. It, along with Salesforce CRM, and helped pioneer the software-as-a-service market.

“NetSuite has been working for 18 years to develop a single system for running a business in the cloud,” said Evan Goldberg, Founder, Chief Technology Officer and Chairman, NetSuite. “This combination is a winner for NetSuite’s customers, employees and partners.”

The transaction is expected to close in late 2016. For more information about this announcement is available at

Download our Free Cloud Computing Platform Buyer’s Guide for a closer look at product key features and capabilities.