RightNow shareholders OK with Oracle buy

By Rick Whiting on Dec 28, 2011 10:16 AM
Filed under Software

Regulatory review remains.

Oracle is one step closer to wrapping up its US$1.5 billion acquisition of RightNow Technologies after RightNow shareholders overwhelmingly approved the deal late last week.

RightNow said Thursday that 99.8 percent of the shares voting at a special meeting of stockholders held that day had approved of the company's sale to Oracle. Those shares voting represented 87 percent of RightNow's total outstanding shares of common stock, according to the company.

Oracle and RightNow announced the deal in October under which Oracle is paying US$43 per share or approximately US$1.5 billion to acquire RightNow, a developer of cloud-based customer service and call centre applications. The move is widely seen as a bid by Oracle to compete more directly against Salesforce.com and its cloud-based customer service offerings.

RightNow said in a statement that completion of the acquisition remains subject to regulatory approval and "the satisfaction or waiver of the other closing conditions specified in the merger agreement." In October Oracle said it expected to complete the deal either in late 2011 or early 2012.

Oracle plans to offer the RightNow applications through the new Oracle Public Cloud service the company announced at Oracle OpenWorld and that's expected to be generally available in the new year.

 

This article originally appeared at crn.com

 
Follow us on Facebook and Twitter
 

Copyright © 2014 The Channel Company, LLC. All rights reserved.

RightNow shareholders OK with Oracle buy
 
 
 
 
 
Top Stories
The 20 most influential people in tech of 2014
Who's turning the industry upside down?
 
Officeworks cracks earnings milestone
But expects unpredictable conditions ahead.
 
Strong Vita Group earnings marred by Apple business
Lack of new iPhone hurts Next Byte.
 
Sign up to receive CRN email bulletins
   FOLLOW US...
Polls
As a reseller, rebates and discounts are...


Latest Comments
CRN Magazine

Issue: 329 | July 2014

CRN Magazine looks in-depth at the emerging issues and developments for the channel, and provides insight, analysis and strategic information to help resellers better run their businesses.