Oracle has entered into an agreement to acquire RightNow Technologies, Inc., a provider of cloud-based customer service, for $43 per share or approximately $1.5 billion net of RightNow's cash and debt. "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.
According to Oracle, RightNow's Customer Service Cloud helps organizations deliver exceptional customer experiences across call centers, the web and social networks and, together, Oracle and RightNow can enable a superior customer experience at every contact and across every channel. "RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud," said Kurian.
"RightNow's products add leading customer experience capabilities that help empower companies to interact with and provide a consistent experience to customers across channels," said Greg Gianforte, CEO, RightNow. "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 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, regulatory approvals and customary closing conditions.
More information about the acquisition can be found at www.oracle.com/rightnow.