Oracle to Acquire NetSuite for $9.3 Billion - The New York Times

One way to accelerate Oracle's cloud business

"“Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” Mark Hurd, chief executive of Oracle, said in the statement.

Mr. Ellison, Oracle’s founder and chairman, is one of the most acquisitive software executives in the world, although this transaction is among his largest. Mr. Ellison owns a 27 percent stake in the company and the two companies have partnered in the past on ventures to bring cloud services to smaller businesses."

Oracle to Acquire NetSuite for $9.3 Billion - The New York Times