Oracle confirms that it will be acquiring Eloqua, a developer of cloud-based marketing automation and revenue performance management software.
Oracle will pay $23.50 per share, valuing the company at $871 million. Eloqua was founded in 1999 and claims to have more than 1,100 clients and more than 100,000 users.
The acquisition helps Oracle keep pace with rivals such as IBM in shaping a comprehensive cloud services portfolio. "Modern marketing practices are driving revenue growth and is a critical area of investment for companies today," said Oracle's EVP Thomas Kurian in a statement. "Eloqua’s leading marketing automation cloud will become the centerpiece of the Oracle Marketing Cloud and is an important addition to the Oracle Customer Experience offering, which includes the Oracle Sales Cloud, Oracle Commerce Cloud, Oracle Service Cloud, Oracle Content Cloud and Oracle Social Cloud."
Oracle said that Eloqua's SaaS will be key to create a "Customer Experience Cloud" that is designed to help companies market, sell, support and serve their customers. The transaction is expected to close in the first quarter of 2013.
Eloqua's board of directors unanimously approved the transaction which is expected to close in the first half of 2013, subject to Eloqua stockholder approval, certain regulatory approvals and other customary closing conditions.
Wolfgang Gruener is a contributor to Tom's IT Pro. He is currently principal analyst at Ndicio Research, a market analysis firm that focuses on cloud computing and disruptive technologies, and maintains the conceivablytech.com blog. An 18-year veteran in IT journalism and market research, he previously published TG Daily and was managing editor of Tom's Hardware news, which he grew from a link collection in the early 2000s into one of the most comprehensive and trusted technology news sources.
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