NetSuite is suddenly at the center of big news that’s shaking up the cloud computing world now that Oracle intends to acquire it for $9.3 billion. The acquisition, which is still subject to certain regulatory approvals, is expected to close by the end of 2016. It’s not a surprise for those in-the-know—Oracle’s co-founder Larry Ellison already owns a portion of NetSuite already—but it still opens up significant opportunities for companies who operate under NetSuite’s software offerings.
Oracle seems committed to pushing the pace of innovation through this partnership. Oracle’s CEO, Mark Hurd, said, “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever. We intend to invest heavily in both products — engineering and distribution.”
Of the deal, Zach Nelson, Netsuite’s CEO, says in a press release, “NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries.”
In a letter to customers, Nelson added: “As we work with Oracle, we are 100% committed to keeping NetSuite innovative and nimble, with our top priority to ensure a seamless experience for all of our clients and partners.”
On the topic of continuity, NetSuite is adamant that its acquisition will enable its software to expand in compliment to Oracle’s existing offerings. Customers are asked to continue working with their existing partners, and Oracle promises to work closely with those partners to ensure a smooth transition, if that is indeed necessary. Training will continue as normal for both customers and partners.
As for BI101, we’re eager to continue working with NetSuite in the long-term, both as an independent company, and under Oracle’s tutelage. We’re excited to see what new technologies and innovations the partnership can create—as part of the BI101 community, we’ll be diligent in sharing any news that might improve the way you run your business.
For more information, visit NetSuite’s press release on the acquisition.
About the companies
NetSuite was founded in 1998 and has since been a leader in the cloud computing marketplace. Its enterprise resource planning (ERP), financial, and e-commerce software currently operates within 30,000 organizations, according to the company.
Oracle provides cloud applications, platform services, and engineered systems to more than 420,000 customers, according to its website. It’s been in business since 1977—quite a long time for a software company—and clearly is ready to make the big moves necessary to stay relevant in today’s cloud computing marketplace.