Oracle To Buy NetSuite In $9.3 Billion Deal

By Markets MarketWatch Pulse

Oracle said Thursday that it has agreed to acquire NetSuite , a cloud company, in a deal valued at $9.3 billion. Oracle is paying $109 a share. "Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever," Mark Hurd, chief executive officer of Oracle said in the press release. "We intend to invest heavily in both products -- engineering and distribution." The deal is expected to close in 2016, subject to regulatory approval and NetSuite stockholders "tendering a majority of NetSuite's outstanding shares" in a tender offer. Oracle expects the acquisition to be "immediately accretive" to earnings on a non-GAAP basis in the year after the deal closes. Shares of Oracle were up less than 1% Thursday in premarket trade.

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