Business software maker Oracle buying Responsys for about $1.39 billion

December 20, 2013 - 6:23 AM

REDWOOD SHORES, Calif. - Oracle is buying cloud-based business-to-consumer marketing software company Responsys for about $1.39 billion.

Oracle, which also makes business software, will pay $27 per Responsys Inc. share, a 38 per cent premium to the company's Thursday closing price of $19.52.

Responsys currently has approximately 51.4 million outstanding shares, according to FactSet. The companies put the transaction's value at about $1.5 billion.

Responsys' board unanimously approved the deal. The acquisition is targeted to close in the first half of next year.

Oracle Corp.'s stock fell slightly in Friday premarket trading.

News from © The Associated Press, 2013

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