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Oracle to Buy Cloud Computing Firm for $1.5 Billion (ORCL)
10/24/2011 9:31:00 AM
Enterprise software giant Oracle Corporation ( ORCL ) on Monday announced it would buy cloud computing firm RightNow Technologies Inc. ( RNOW ) for a total of $1.5 billion.
The $1.43 billion asking price totals some $1.5 billion when including RightNow's cash and debt.
Oracle will pay $43 per share for RNOW, representing a nearly 20% premium over the stock's Friday closing price of $35.96.
Oracle shares posted small losses in premarket trading Monday.
The Bottom Line
Oracle Corporation ( ORCL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.