Oracle Buying NetSuite

Thursday, 28 July 2016
Tech

Zach Nelson, NetSuiteOracle is paying about $9.3 billion to buy NetSuite, the company that pioneered cloud-based accounting. In a deal expected to close this year, Oracle will pay $109 per share in cash for the target company. Both were founded by Larry Ellison with NetSuite founded in 1998. Oracle CEO Mark Hurd said in a prepared statement the company will invest heavily in both product lines.

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