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Oracle agreed to acquire Arlington, Va.-based Opower (NYSE: OPWR), a leading provider of customer engagement and energy efficiency cloud services to utilities, for $532 million. A few days earlier, Oracle agreed to acquire Deerfield, Ill.-based cloud-services provider Textura Corp. for $663 million. In mid-April, Oracle acquired Israeli cross-device ad-tech startup Crosswise for $50 million, and in February it acquired Israeli nested virtualization startup Ravello for $500 million. “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” said Oracle CEO Mark Hurd. “We intend to invest heavily in both products—engineering and distribution.” “We expect this acquisition to be immediately accretive to Oracle’s earnings on a non-GAAP basis in the first full fiscal year after closing,” said Oracle CEO Safra Catz. “NetSuite has been working for 18 years to develop a single system for running a business in the cloud,” said Evan Goldberg, founder, chief technology officer and chairman of NetSuite. “NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries,” said Zach Nelson, CEO of NetSuite, and former senior marketing executive at NetSuite. The evaluation and negotiation of the transaction was led by a special committee of Oracle’s board of directors consisting solely of independent directors. The special committee unanimously approved the transaction on behalf of Oracle and its board. The deal is expected to close in 2016, subject to regulatory and shareholder approvals and other customary closing conditions. In addition, the closing is subject to a condition that a majority of NetSuite’s outstanding shares not owned by executive officers or directors of NetSuite, or persons affiliated with Larry Ellison or his family be tendered. Photo: Larry Ellison, Executive Chairman and Chief Technology Officer at Oracle.]]>