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Oracle Giving Investors More of What They Want to See

At Oracle (ORCL - Get Report) , M&A is propelling the tech behemoth's speedy shift to the cloud.

The Redwood City, Calif.-based software maker announced Monday that it has agreed to acquire Opower (OPWR) for $532 million, or $10.30 per share, in cash.

Shares of the cloud-based software provider were up 30.5% Monday mid-day to $10.31, while Oracle stock was up about 0.2% to $39.92.

"The focus is on cloud," MKM Partners analyst Kevin Buttigieg said via phone. "I do think that's what investors want to see."

Must Read: Everything You Wanted to Know About the Cloud But Were Afraid to Ask

Opower represents Oracle's second acquisition in less than a week. Last Thursday, it announced that it was buying Textura (TXTR) for $663 million.

Though such acquisitions aren't necessarily needle-moving for the tech giant, they underscore a solid M&A strategy that has propelled Oracle's transition to cloud from a more traditional on-premise license model.

Cloud refers to the idea of storing data and information through an off-premise software model. Off-premise software can be operated remotely while on-premise software is installed and run at a specific building or organization.

"Oracle really recognizes that the cloud is moving so fast, and they're bulking up in the cloud, which they have to do because their on-premise business is declining," said Jim Cramer...