Oracle (ORCL) will purchase RightNow Technologies (RNOW) for $43/share, about a 20% premium to the stock's Friday close.
With this deal, Oracle is squarely targeting Salesforce.com (CRM) and NetSuite (N) in the burgeoning market for cloud-based CRM software. While Oracle is a leader in traditional CRM, cloud-based solutions, with their lower up-front costs and faster rollout times, have become a growing threat.
Obviously the Street likes the deal: ORCL +0.36 to 32.46.
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