Oracle announced that it has acquired cloud-based marketing automation company Eloqua for $23.50 per share price or approximately $871 million. The Board of Directors of Eloqua has unanimously approved the transaction while the transaction is expected to close in the first half of 2013, subject to Eloqua stockholder approval.
Both Oracle and Eloqua together is expected to create a comprehensive Customer Experience Cloud offering which will help companies transform the way they market, sell, support and serve their customers. Even further, the combined offering expected to enable organizations which will provide a highly personalized and unified experience across channels, leading to create brand loyalty through social and online interactions.
“Modern marketing practices are driving revenue growth and is a critical area of investment for companies today,” said Thomas Kurian, Executive Vice President, Oracle Development. “Eloqua’s leading marketing automation cloud will become the centerpiece of the Oracle Marketing Cloud and is an important addition to the Oracle Customer Experience offering, which includes the Oracle Sales Cloud, Oracle Commerce Cloud, Oracle Service Cloud, Oracle Content Cloud and Oracle Social Cloud.”