Oracle to buy RightNow Technologies for USD 1.5 billion

ERP and Database giant Oracle Corp has announced its plan to buy online customer service company RightNow Technologies Inc for about USD 1.5 billion to increase its presence in Cloud Technology sector. The bid price is nearly 20% more than RightNow's closing share price on last Friday and the high premium was mainly because of the high synergy involved in the acquisition deal.

RightNow Technologies Inc is a well-known Cloud Technology company which provides online customer services and helps managing customer call centers with extended support to web and social network.    This deal will help Oracle to push into the Cloud technology market which has huge growth potential in the immediate future. This is Oracle-s another big acquisition in the Cloud Technology sector after the recent acquisition of ATG, Inquira and FatWire.