The deal that closes at approximately $532 million will make Oracle and OPower the largest mission-critical cloud service provider to the $2.3 Trillion utilities industries.
GreatResponder.com Oracle announces that the company has entered into an ultimate contract to get hold of Opower for roughly $532 million. The company is apparently ongoing its efforts to influence the productive cloud space through acquirement, not by the natural expansion.
Opower that gives client engagement and power effective cloud services to the utilities industry, possesses a vigorous client list of more than 100 utilities together with companies like PG&E, Exelon and National Grid. The declaration follows a related one from last week, when Oracle acquired Textura, that is a supplier of construction agreements and payment organization cloud services.
“Utilities want modern technology solutions that work together to meet their evolving customer, operational and compliance needs,” said Rodger Smith, Senior Vice President and General Manager, Oracle Utilities Global Business Unit. “Together, Oracle Utilities and Opower will be the largest provider of mission-critical cloud services to utilities.”
Despite the fact that other businesses apparently hold cloud as a technology right from its starting days and they developed a portfolio to participate in this aggressive marketplace. Oracle shows to be using financial power as a means of equalling the market and catching up with business leaders.
“The combination will provide the industry with the most modern, complete cloud applications for the entire utility value chain, from meter to grid to end-customers,” said Dan Yates, Chief Executive Officer and Co-Founder, Opower. “We are excited to join Oracle and to bring even more value to our customers as part of the Oracle Utilities Industry Cloud Platform.”
Though the aforesaid purchases have amplified Oracle’s share in the cloud marketplace, the company has been getting some unfavorable reports in recent times. Research from JP Morgan revealed, although there are still a number of enterprise businesses who will carry on to use the services of Oracle. There are more due to the difficulties of transferring their systems to another vendor, as contrasting to the technical power of the tech giant.
The Opower has a big data platform that stores and examines over 600 billion meter reads from more than 60 million utility end clientele. This amazing service enables the utilities to proactively meet up the rigid necessities, reduce the price to supply, and get better client contentment.
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