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Oracle Buys NetSuite for USD 9.3 Billion In Cash 2016.07.28

Redwood Shores, Calif., USA - July 28, 2016 - Oracle (NYSE: ORCL) today announced that it has entered into a definitive agreement to acquire NetSuite (NYSE: N), the very first cloud company. The transaction is valued at USD109.00 per share in cash, or approximately USD9.3 billion. The proposed transaction is expected to close in 2016. Until the transaction closes, Oracle and NetSuite will continue to operate independently. In 1998, NetSuite pioneered the Cloud Computing revolution, establishing the world's first company dedicated to delivering business applications over the Internet. Today, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 30,000 companies, organizations, and subsidiaries in more than 100 countries.

Oracle HQ
Photo courtesy of Oracle
 

Redwood Shores, Calif., USA - July 28, 2016

Oracle (NYSE: ORCL) today announced that it has entered into a definitive agreement to acquire NetSuite (NYSE: N), the very first cloud company.

The transaction is valued at $109.00 per share in cash, or approximately $9.3 billion.

Oracle Partner Network
Photo courtesy of Oracle
 
On July 28, 2016, Oracle announced that it has entered into a definitive agreement to acquire NetSuite, the very first cloud company.

The proposed transaction is expected to close in 2016.

Until the transaction closes, Oracle and NetSuite will continue to operate independently.

In 1998, NetSuite pioneered the Cloud Computing revolution, establishing the world's first company dedicated to delivering business applications over the Internet.

 
 
Today, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 30,000 companies, organizations, and subsidiaries in more than 100 countries.

The addition of NetSuite will enable Oracle to expand its ability to support customers of any size in more industries and more countries.

Mark Hurd is chief executive officer of Oracle Corporation and a member of the company’s board of directors.
He joined Oracle in 2010, bringing more than 30 years of technology industry leadership, computer hardware expertise, and executive management experience to his role with the company.
Hurd is also a member of the Baylor University Board of Regents.
Photo courtesy of Oracle
 
“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.”


Safra A. Catz is chief executive officer of Oracle Corporation and a member of the company’s board of directors.
She previously served as president of Oracle and has also served as the company’s chief financial officer.
Catz first served as Oracle’s chief financial officer from 2005 to 2008, as executive vice president from 1999 to 2004, and as senior vice president from April to October 1999.
She served on the board of directors for HSBC Holdings, one of the world's largest banking and financial services organizations, from 2008 through 2015.
Photo courtesy of Oracle
 
“We expect this acquisition to be immediately accretive to Oracle’s earnings on a non-GAAP basis in the first full fiscal year after closing,”
said Safra Catz, Chief Executive Officer, Oracle.

Evan Goldberg, Founder, Chief Technology Officer and Chairman, NetSuite.
Photo courtesy of NetSuite
 
“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.”

Zach Nelson, Chief Executive Officer, NetSuite.
Photo courtesy of NetSuite
 
“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.”

Oracle Partner Network
Photo courtesy of Oracle
 
The evaluation and negotiation of the transaction was led by a Special Committee of Oracle’s Board of Directors consisting solely of independent directors.

The Special Committee unanimously approved the transaction on behalf of Oracle and its Board of Directors.

The transaction is expected to close in 2016.

Oracle Reimagines Oracle OpenWorld For A New Era.
Photo courtesy of Oracle
 
The closing of the transaction is subject to receiving certain regulatory approvals and satisfying other closing conditions including NetSuite stockholders tendering a majority of NetSuite’s outstanding shares in the tender offer.

Hurd’s Cloud Vision: Oracle Builds Globally, Delivers Locally.
Photo courtesy of Oracle
 
In addition, the closing is subject to a condition that a majority of NetSuite’s outstanding shares not owned by executive officers or directors of NetSuite, or persons affiliated with Larry Ellison, his family members and any affiliated entities, be tendered in the tender offer.

More information about this announcement is available at
www.oracle.com/netsuite  


Photo courtesy of NetSuite
 
Oracle’s acquisition of NetSuite dwarfs its previous 2016 acquisitions in total deal value, though it still ranks below the all-time leader – PeopleSoft, which Oracle acquired for a heady $10.3 billion way back in 2004, when such stratospheric values were even more uncommon.

Cloud Customer Successes
Photo courtesy of Oracle
 
While their service offerings are similar, NetSuite offers Oracle access to companies sized smaller than its traditional clientele, and could also give it some additional competitive edge in taking on primary rival Salesforce.

Through our acquisition activities, Oracle seeks to strengthen its product offerings, accelerate innovation, meet customer demand more rapidly, and expand partner opportunities.

Legendary recording artist Billy Joel will be performing live at this year’s Oracle Appreciation Event.
The night’s entertainment will be held at AT&T Park, home of baseball’s World Series-winning San Francisco Giants.
Photo courtesy of Oracle
 
An integral part of Oracle's Mergers and Acquisitions philosophy is our consistent commitment to customer service and product support while achieving our financial return objectives and creating value for our shareholders.


Contact Info

Deborah Hellinger
Oracle Corporate Communications
+1.212.508.7935
deborah.hellinger@oracle.com  

Ken Bond
Oracle Investor Relations
+1.650.607.0349
ken.bond@oracle.com   


About Oracle

Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services.

 
 
For more information about Oracle (NYSE:ORCL),

visit www.oracle.com  


Source: Oracle

https://www.oracle.com/corporate/press/index.html  



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Oracle Announces Availability of Oracle Solaris 11.1 and Oracle Solaris Cluster 4.1


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Oracle Buys Vitrue


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Oracle Unveils Enhancements to Oracle WebCenter


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Oracle: Taming the Data Deluge. Four ways smart technology can transform massive data sets into real profits


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Oracle Named a Leader in Enterprise Content Management by Leading Analyst Firm


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Larry Ellison to Unveil ORACLE + SUN Strategy


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ASTROMAN Magazine - 2009.04.26

Oracle Is the # 1 Business Software Company


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Editor-in-Chief of ASTROMAN magazine: Roman Wojtala, Ph.D.


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