Oracle has acquired software company Eloqua for $871 million. Oracle is paying $23.50 per share, which is around a 30% premium off of Eloqua’s closing price on the Nasdaq on December 19th. The acquisition was announced yesterday. Eloqua is known for making cloud-based marketing and revenue performance management software. Eloqua’s board of directors approved of the deal already and Oracle expects the deal to close in the first half of 2013.
“Modern marketing practices are driving revenue growth and is a critical area of investment for companies today. 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,? stated Oracle Development EVP Thomas Kurian.
?Exceptional customer experience starts with knowing your customer?s preferences and delivering a highly personalized buying experience,? added Eloqua Chairman and CEO Joe Payne. ?Together with Oracle, we expect to accelerate the pace of the modern marketing revolution and help our customers transform the way they market, sell, support and serve their customers.”