Oracle buys RightNow

 

Oracle announced that it is purchasing RightNow Technologies, Inc. The cloud-based customer service provider is being bought at $43.00 per share (for a total of $1.5 billion net of RightNow’s cash and debt). The company delivers cloud services to call centers, the web, and social networks. Their fusion with Oracle will upgrade customer experiences across every channel.

Greg Gianforte, the CEO of RightNow, describes how his company’s products “add leading customer experience capabilities that help empower companies to interact with and provide a consistent experience to customers across channels. We look forward to combining our complementary capabilities along with maintaining and expanding our presence in Bozeman, Montana in order to better service our customers."

The transaction has been unanimously approved by the Board of Directors of RightNow Technologies and is expected to be completed by late 2011 or early 2012. The only remaining factors for resolution are stockholder approval, regulatory approvals, and typical closing conditions.

Thomas Kurian, Exective Vice President of Oracle Development, explains the current purchasing goals of Oracle, “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. RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud."