<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=oracle">Oracle </a>Corp said it would buy <a href="http://www.dealstreetasia.com/?s=netsuite">NetSuite </a>Inc in a deal valued at about $9.3 billion to expand into the fast-growing cloud market.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=oracle">Oracle </a>Corp said it would buy <a href="http://www.dealstreetasia.com/?s=netsuite">NetSuite </a>Inc in a deal valued at about $9.3 billion to expand into the fast-growing cloud market.
Netsuite shares rose 18.6 percent to $108.64 in premarket trading, just shy of the offer price of $109 per share.
Like rivals SAP SE and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=microsoft">Microsoft </a>Corp, Oracle has focused on moving its business to the cloud-based model, essentially providing services remotely via data centers rather than selling installed software.
NetSuite, founded in 1998, pioneered the cloud computing revolution, by creating the first company dedicated to providing business applications over the internet.
Oracle has also acquired companies such as Textura and Opower to increase its competitiveness in the cloud market.
The company expects the deal to immediately add to its adjusted earnings in the first full fiscal year after the transaction closes.
Oracle shares were up 1.6 percent at $41.6 in premarket trading.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/this-article-was-first-published-on-livemint-com-tags-employees-goldman-sachs-ipo-merrill-lynch-staffing-services-t-30597/">Oracle to set up nine incubation centres in key Indian cities</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/google-asks-court-for-ok-to-press-for-sanctions-against-oracle-28807/">Google asks court for OK to press for sanctions against Oracle</a>
<h4>Reuters</h4>

Oracle Corp said it would buy NetSuite Inc in a deal valued at about $9.3 billion to expand into the fast-growing cloud market.

Oracle buys NetSuite in $9.3b deal to expand into cloud market

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Oracle buys NetSuite in $9.3b deal to expand into cloud market

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief