Oracle Corp, the world’s No. 2 business software maker, said it would buy cloud-based marketing software maker Responsys Inc in a deal valued at $1.5 billion.<\/p>\n
The offer of $27 per share represents a premium of about 38 percent to Responsys’ Thursday closing. Responsys shares were trading at $26.94 on the Nasdaq on Friday.<\/p>\n
Responsys makes cloud-based software that businesses use to manage their marketing campaigns across e-mail, mobile and the Internet.<\/p>\n
Oracle, led by Larry Ellison, is boosting its cloud software business to fend off competition from nimbler rivals such as Salesforce.com, who offer Internet-based software products at prices that often undercut Oracle.<\/p>\n
The four-decade-old company has been rolling out its cloud-based products and has created sales teams targeting specific cloud competitors.<\/p>\n
The deal with Responsys, which has been approved by the board of directors of Responsys, is expected to close in the first half of 2014.<\/p>\n
Oracle shares were down marginally at $36.65 in early trading on the New York Stock Exchange.<\/p>\n
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