Did You Know that Oracle Now Owns NetSuite? - BrainSell Technologies - ContactCenterWorld.com Blog
Database Giant, Oracle, Now Owns NetSuite
As of November 7th, 2016, Oracle now owns NetSuite. Oracle spent $9.3 billion to expand its cloud footprint and marketing to smaller companies. The settlement of this deal was crucial for NetSuite. It was uncertain if the deal would finalize and that put NetSuite’s sales on pause. NetSuite definitely had some integration trouble soon after the deal, but Oracle now reports that their total cloud revenues are 13% this year, so it’s up 8% from this time last year. So why is this an important factor in deciding a cloud-based ERP platform? To learn more register for our webinar on NetSuite vs. Intacct on Thursday, April 6th at 2:00 PM EDT.
What does this merge mean?
Oracle is a global corporation and this merger does a great deal to their standing in the competitive cloud-based market. They want to advance their own cloud capabilities, while also competing in the small and mid-tier markets. With the acquisition of NetSuite, they can now offer more cloud services in more industries and countries. In addition, Oracle claims it will run NetSuite as an independent company, but historically Oracle has fully integrated its acquired companies. As a result, existing NetSuite customers will see a price increase.
Oracle’s plans for NetSuite
Oracle plans to focus on ERP in its cloud apps portfolio. They’re going to use NetSuite’s total addressable market to gather the small and midmarket businesses. The success of this merger will then rest on Oracle’s ability to keep those small and midmarket businesses and grow the market. Historically, Oracle has catered to larger corporations. The question remains, can Oracle move downstream effectively?
Interested in learning more about cloud-based ERP platforms? Register for our NetSuite vs. Intacct webinar here.
Publish Date: March 31, 2017 5:00 AM
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