Oracle acquires Eloqua for $810 million to uplift cloud presence
Added On:12/21/2012 12:05:00 PM
For enlarging its cloud-computing services, Oracle Corp is acquiring Eloqua Inc. – a maker of web-based marketing automation software for about $810 million.
If things are to be believed, Eloqua’s board of directors has given their approval to the acquisition and now the deal is expected to close in the first half of 2013.
According to the sources, now the company wants to boost cloud presence and trying to be a one-stop shop on the internet for operating systems, databases, computer programs and infrastructure.
The web firm, Eloqua have customers like AON Plc, Dow Jones, Automatic Data Processing Inc, Polycom Inc and National Instruments corp. The company makes software to help businesses predict and generate revenue by monitoring marketing and sales initiatives.
Nomura Equity Research analysts mentioned in a research note that the deal will add a leading market automation solution to Oracle’s strong marketing force automation products.
Thomas Kurian, Executive Vice President of Oracle Development stated that Eloqua’s marketing automation cloud will become the centre piece of the company’s Marketing Cloud.
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