Oracle Corporation (NYSE:ORCL) has announced that they are acquiring cloud marketing company Responsys for $1.5 billion. The acquisition is for $27 per share, which is a 38% premium of Responsys? closing price on Thursday. Responsys went public in 2011 at $12 per share. Oracle will be combining the Responsys with another recent acquisition, Eloqua. Oracle acquired Eloqua a year ago for $871 million. Below is the release of the acquisition:
Oracle Buys Responsys
Creates the World?s Largest Modern Marketing Cloud by Adding Leading B2C Marketing Orchestration Platform
Redwood Shores, Calif. ? December 20, 2013
Oracle today announced that it has entered into an agreement to acquire Responsys, Inc. (NASDAQ: MKTG), the leading provider of enterprise-scale cloud-based B2C marketing software, for $27.00 per share in cash or approximately $1.5 billion, net of Responsys? cash. Responsys is used by the most respected B2C brands across the globe to orchestrate marketing interactions across email, mobile, social, display and the web, at massive scale.
The addition of Responsys extends Oracle?s Customer Experience Cloud, which includes Commerce, Sales, Service, Social and the Oracle Marketing Cloud. By bringing together Responsys and Oracle Eloqua in the Marketing Cloud, for the first time CMOs that support industries with B2C or B2B business models will be equipped to drive exceptional customer experiences across marketing interactions and throughout the customer lifecycle from a single platform.
The Board of Directors of Responsys has unanimously approved the transaction. The transaction is expected to close in the first half of 2014, subject to Responsys stockholders tendering a majority of Responsys? outstanding shares and vested equity incentive awards in the tender offer, certain regulatory approvals and other customary closing conditions.
?Recognizing the unique needs of the CMO in B2B and B2C industries, the Oracle Marketing Cloud is now the only platform to unite enterprise-class leaders in these historically distinct marketing-automation fields,? said Mark Hurd, President, Oracle. ?Our strategy of combining the leaders across complementary technologies signifies Oracle?s overwhelming commitment to winning and serving the CMO better than any other software company in the world.?
?Responsys has always been focused on helping marketers realize their largest opportunity ? coordinating their marketing touch points across channels, across the customer lifecycle, and across industries, and as a part of Oracle, we will only accelerate our efforts,? said Dan Springer, CEO, Responsys. ?Oracle not only shares our vision, but is the proven leader in bringing together best-in-class technologies and companies to realize the largest enterprise opportunities. We couldn?t be more excited about what this means for our customers and employees.?
?Oracle customers will benefit from continued R&D investment across the Responsys and Eloqua platforms, ensuring that CMOs in all industries are armed with a best-in-class solution,? said Thomas Kurian, Executive Vice President, Oracle Development. ?When combined with the full Oracle Customer Experience Cloud, for the first time, companies will be empowered to orchestrate individualized experiences that extend from Marketing, to Commerce, to Sales, to Service, to Support.?