Hardware systems and enterprise software developer Oracle has entered into an agreement to acquire RightNow Technologies, Inc, a provider of cloud-based customer service.
Oracle would carry out the acquisition for US$43 per share or about US$1.5bn net of RightNow’s cash and debt.
RightNow’s Customer Service Cloud helps organisations deliver exceptional customer experiences across call centres, the web and social networks. Together, Oracle and RightNow can enable a superior customer experience at every contact and across every channel.
The board of directors of RightNow Technologies has unanimously approved the transaction, which is expected to close by late 2011 or early 2012, subject to RightNow stockholder approval, certain regulatory approvals and customary closing conditions.
"Oracle is moving aggressively to offer customers a full range of cloud solutions, including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud," said Thomas Kurian, executive vice-president, Oracle Development. "RightNow’s leading customer service cloud is a very important addition to Oracle’s Public Cloud."
Greg Gianforte, CEO, RightNow, said the company’s products add leading customer experience capabilities that help empower other companies to interact with and provide a consistent experience to customers across channels.
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