Shares of Oracle Corp. (NASDAQ:ORCL) traded sideways on Friday after the technology company announced that it entered into an agreement to acquire Responsys Inc. (NASDAQ:MKTG), “the leading provider of enterprise-scale cloud-based B2C marketing software,” for $1.5 billion net of cash, or $27 per share. Responsys stock closed Thursday at $19.52, before the acquisition was announced.
“Recognizing the unique needs of the CMO in B2B and B2C industries, the Oracle Marketing Cloud is now the only platform to unite enterprise-class leaders in these historically distinct marketing-automation fields,” said Oracle President Mark Hurd in a press release. “Our strategy of combining the leaders across complementary technologies signifies Oracle’s overwhelming commitment to winning and serving the CMO better than any other software company in the world.”
The news comes just two days after Oracle reported somewhat underwhelming second-quarter results. Total revenues at Oracle increased 2 percent on the year to $9.3 billion, above the mean analyst estimate of $9.19 billion. Adjusted earnings increased 7 percent on the year to 69 cents per share, above the mean analyst estimate of 67 cents per share. Unadjusted, GAAP earnings increased 5 percent on the year to 56 cents per share.