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Oracle snaps up cloud marketing firm Eloqua
Software giant ups ante in cloud war with Salesforce.com by splashing £535 million on new buy
Oracle has hit the cloud acquisition trail once again by snapping up marketing automation software firm Eloqua for $810 million (£535 million).
Eloqua makes cloud-based software to help organisations predict and increase revenues by monitoring sales and marketing initiatives. The firm counts AON PLC, Dow Jones and Polycom among its customers.
“Modern marketing practices are driving revenue growth and is a critical area of investment for companies today,” said Thomas Kurian, executive vice president of Oracle Development.
Kurian said Eloqua’s marketing automation cloud will become the centrepiece of the Oracle Marketing Cloud and is an “important addition" to the Oracle Customer Experience offering.
The latter consists of the Oracle Sales Cloud, Oracle Commerce Cloud, Oracle Service Cloud, Oracle Content Cloud and Oracle Social Cloud.
Eloqua's board of directors has unanimously approved the transaction, which is expected to close in the first half of 2013.
Oracle did not disclose how it intends to integrate Eloqua into its Marketing Cloud product suite.
The deal serves to promote Oracle’s claim that it has a $1 billion cloud business. The company reported a 17 per cent increase in new software license revenues and cloud software subscriptions in its second quarter earnings yesterday.
The purchase of Eloqua is the latest in a long line of cloud-related acquisitions made by Oracle over the past few months.