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Oct. 24, 2011 / 2:52 PM

Oracle buys RightNow for $1.4 billion

REDWOOD SHORES, Calif., Oct. 24 (UPI) -- U.S. technology giant Oracle said Monday it would buy cloud-based service RightNow for $43 per share, valuing the firm at nearly $1.5 billion.

The board of directors at RightNow Technologies unanimously approved the deal, Oracle said in a statement.

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Cloud computing is a system in which companies manage a consumer's digital content -- videos, music, photographs and other items. The owner of a mobile devise would then, for example, download the digital content to the device at the consumer's convenience.

Executive Vice President for Development Thomas Kurian said, "Oracle is moving aggressively to offer customers a full range of cloud solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud."

"RightNow's leading customer service cloud is a very important addition to Oracle's Public Cloud," he said.

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