A day after issuing promising second quarter results, software giant Oracle announced it is acquiring cloud software company Responsys for $1.5 billion.
Oracle’s deal for Responsys represents $27 per share, which Reuters points out is at a 38 percent premium to the company’s closing price on Thursday.
The purchase of Responsys is intended to extend Oracle’s Customer Experience Cloud, which includes Commerce, Sales, Service, Social and the Oracle Marketing Cloud.
“When combined with the full Oracle Customer Experience Cloud, for the first time, companies will be empowered to orchestrate individualized experiences that extend from Marketing, to Commerce, to Sales, to Service, to Support,” Thomas Kurian, executive vice president of Oracle Development, said in a statement.
The deal comes shortly after Oracle’s stock rose to its highest in 13 years on forecasts outrunning analysts’ estimates. Bloomberg saw Oracle shares yesterday jump 5.8 percent to $36.60. Shares were slightly down from that as of 8:51 a.m. CT today but mostly holding steady.
Part of Oracle’s sunny outlook can be attributed to a 35-percent boost in cloud software bookings. In December of 2012, Oracle announced its acquisition of Eloqua, a provider of cloud-based modern marketing applications. The company plans to integrate Eloqua and Responsys in its Marketing Cloud to further Oracle’s ability to serve industries with B2C or B2B business models.