Actionable news
All posts from Actionable news
Actionable news in ORCL: ORACLE CORP,

Oracle Acquires NetSuite for $9.3 Billion as Cloud Computing War Heats Up

A war for cloud software may be beginning.

Oracle (ORCL) announced Thursday that it has agreed to buy NetSuite (N) for $9.3 billion, or $109 per share, in cash. The evaluation and negotiation of the deal was led by a special committee of Oracle's board of directors.

Shares of NetSuite rallied about 18% Thursday afternoon to $108.20, while Oracle was down slightly to $40.88 a share.

For Redwood City, Calif.-based Oracle, the buyout of NetSuite represents...