Oracle announced today that it will acquire Eloqua, Inc. for $871 million. Oracle will pay $23.50 per share for Eloqua, a 31% premium over the marketing automation vendor's closing stock price of $17.92 yesterday.
According to an Oracle news release, it will use Eloqua's technology to create a "Customer Experience Cloud" offering enterprises a single, end-to-end suite of cloud applications to acquire, sell to, service and support customers. Specifically, Oracle apparently plans to rebrand Eloqua's marketing automation platform as the "Oracle Marketing Cloud" and to position it alongside its current customer experience offerings.
- Published in News Briefs