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Oracle Purchasing Eloqua
Dec 20, 2012 (04:12 PM EST)
Mike Couch, Chief Executive Officer of Couch & Associates Inc., in response to Oracle buying Eloqua
TORONTO, Dec. 20, 2012 /PRNewswire/ - Today, Oracle Corp agreed to acquire Eloqua, Inc. (NASDAQ: ELOQ), a maker of marketing automation software for approximately $871 million, net of Eloqua's cash. The Eloqua deal builds upon Oracle's previous acquisitions of Vitrue and RightNow.
Oracle's investment into Eloqua will provide further insight into prospects digital body language, helping to streamline the way companies market to customers.
"The combination of Oracle and Eloqua will help enable organizations to provide a highly personalized and unified experience across channels. As Oracle plans to make Eloqua's marketing automation the centerpiece of its marketing cloud offering, the pace of modern-marketing will revolutionize.
We're excited for our long time partner Eloqua, and look forward to the positive impact this acquisition will have on the marketing automation industry."
The $23.50 per share offer represents a 31 per cent premium to Eloqua's close on the Nasdaq on Wednesday. The proposed transaction is subject to stakeholder and regulatory approval and is expected to close in the first half of 2013.
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SOURCE Couch & Associates