The acquisitions will add about $1 billion to revenue from Oracle cloud.
The second largest software developer in the world Oracle offered $9.3 billion for the developer of cloud services for NetSuite, the deal has already approved more than half of the shareholders of the latter.
The owners of 53% of shares, do not have conflict of interests agreed to the terms of the buyer. The deal should be closed today, Monday, November 7.
Oracle has made an offer to purchase NetSuite in July of this year. The Corporation was ready to pay $109 per share, to feel more confident in dealing with competitors like Workday and Salesforce, which already has popular cloud products.
The deal was complicated by the fact that the founder and Chairman of Oracle, Larry Ellison is the largest shareholder of NetSuite, owning 40% of the company. To avoid accusations of conflict of interest, Allison agreed not to consider these actions when voting for the deal.
The acquisitions will add about $1 billion to revenue from Oracle cloud. This will bring her to becoming the first technology company that reaches $10 billion in revenue from cloud business. Existing Oracle business grew by 60% over the last quarter, but brought in only about $1 billion in revenues.
Recall that recently the company Qualcomm, the largest manufacturer of chips for mobile devices, suggested for the chip manufacturer for the automotive industry, NXP $47 billion in cash. This deal should become the largest in the history of the semiconductor industry.
