On July 28, 2016, Oracle announced that it has entered into a definitive agreement to acquire NetSuite, the very first cloud company. The proposed transaction is expected to close in 2016. Until the transaction closes, Oracle and NetSuite will continue to operate independently.
In 1998, NetSuite pioneered the Cloud Computing revolution, establishing the world’s first company dedicated to delivering business applications over the Internet. Today, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 30,000 companies, organizations, and subsidiaries in more than 100 countries.
The addition of NetSuite will enable Oracle to expand its ability to support customers of any size in more industries and more countries.
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