Oracle set to buy out NetSuite

Oracle is all set to acquire NetSuite for approximately $9.3 billion. Commenting on the acquisition the CEO for Oracle, Mark Hurd said, “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever. We intend to invest heavily in both products—engineering and distribution.”

“NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries,” said Zach Nelson, Chief Executive Officer, NetSuite. “We are excited to join Oracle and accelerate our pace of innovation.”