Ross Wilkers
Oracle has agreed to acquire cloud computing software maker Eloqua for $871 million, or $23.50 per share and net of Eloqua’s cash, as part of Oracle’s plans to create a cloud platform for companies to use in customer service and marketing.
Oracle said it expects to close the transaction in the first half of 2013 pending Eloqua shareholder approval and regulatory approvals.
Eloqua’s board of directors unanimously approved the transaction, Oracle said.
“Modern marketing practices are driving revenue growth and is a critical area of investment for companies today,“ said Thomas Kurian, Oracle’s executive vice president of development. “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.“
Kurian announced a new cloud strategy for Oracle at its OpenWorld conference (click here for more coverage of that announcement).
“Exceptional customer experience starts with knowing your customer's preferences and delivering a highly personalized buying experience,“ said Joe Payne, Eloqua chairman and CEO.
The companies will aim to create a combined customer experience cloud for organizations to use in creating brand loyalty via social and online media.
