Oracle to Buy NetSuite for $9.3 Billion

Posted on:01 Aug 2016 10:33:58
Oracle to Buy NetSuite for $9.3 Billion
01 August 2016 Current Affairs: Business software maker Oracle has announced that it has entered into a definitive agreement to acquire NetSuite, the very first cloud company. 

The transaction is valued at $9.3 billion . The deal would help Oracle gain market share in the fast-growing cloud computing business.

Oracle Database (commonly referred to as Oracle RDBMS or simply as Oracle) is an object-relational database management system produced and marketed by Oracle Corporation. Larry Ellison and his two friends and former co-workers, Bob Miner and Ed Oates, started a consultancy called Software Development Laboratories (SDL) in 1977. 

SDL developed the original version of the Oracle software. The name Oracle comes from the code-name of a CIA-funded project Ellison had worked on while previously employed by Ampex.wa

Oracle : Oracle Corporation is an American multinational computer technology corporation, headquartered in Redwood City, California.The company primarily specializes in developing and marketing database software and technology, cloud engineered systems and enterprise software products particularly its own brands of database management systems. In 2011 Oracle was the second-largest software maker by revenue, after Microsoft.

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