Oracle Buys RightNow for $1.5 Billion

Oracle announces that it has entered into an agreement to acquire RightNow Technologies, Inc., a provider of cloud-based customer service, for $43.00 per share or approximately $1.5 billion net of RightNow's cash and debt. RightNow's Customer Service Cloud aims to help organizations deliver exceptional customer experiences across call centers, 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. The transaction is expected to close by late 2011 or early 2012, subject to RightNow stockholder approval, certain regulatory approvals and customary closing conditions.

 

Thomas Kurian, executive vice president for Oracle Development believes that the RightNow customer service cloud is a very important addition to Oracle’s Public Cloud. 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.