Oracle Hauls In NetSuite

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Oracle has entered into a definitive agreement to acquire NetSuite — the company its former chief marketing officer, Zach Nelson, cofounded in 1998 — for $9.3 billion. NetSuite offers various software packages as cloud-based services, including ERP, accounting, CRM and sales force automation. What’s surprising about the deal is “why it took so long and why Oracle paid so much,” said Trip Chowdhry, managing director at Global Equities Research. Oracle “should’ve purchased NetSuite five years ago at half the price.”

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