Oracle today announced it has entered into an agreement to acquire RightNow, a leading provider of cloud-based customer service, for $43 per share. That puts the acquisition at about $1.5 billion net of RightNow's cash and debt, Oracle said in a statement. RightNow's Board of Directors unanimously approved the deal, which is expected to close by the end of the year or early 2012.
"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. "RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud."
RightNow is headquartered in Bozeman, Montana, and boasts an international workforce of over 1,000 employees. The company serves nearly 2,000 organizations, including Western Digital, Toshiba, Canon, Siemens, Nikon, Travelocity, AllState, Reuters, Overstock.com, Yahoo, Logitech, the U.S. Army, and a whole lot of other familiar names. By bringing RightNow into the fold, Oracle envisions creating the most advanced and comprehensive Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) offering around.