Since 2012, Oasis Solutions has partnered with NetSuite Inc. to bring best-in-breed cloud solutions to clients across a wide variety of industries in the greater Louisville, KY region. Oasis has worked with their customers to implement NetSuite products such as enterprise resource planning (ERP), and customer relationship management (CRM).
In a recent announcement, the software giant Oracle Corporation agreed to acquire NetSuite Inc. Oracle is acquiring NetSuite as an effort to boost its cloud solutions offering. The transaction is expected to be valued at $9.3 billion, or $109.00 per share. The NetSuite Board of Directors approved the transaction. The decision is based upon a unanimous recommendation from a transaction committee made up of independent directors.
Annette Manias, President, Oasis Solutions said “Oasis is excited for this new opportunity with NetSuite and Oracle as we expect the collaboration to further enhance the power of the platform. This is a natural partnership that allows Oracle to leverage the NetSuite brand technology to their client base. Oasis envisions the addition of new functionality in the already robust NetSuite platform.”
“Oracle and NetSuite cloud applications are complementary, and will co-exist in the marketplace forever,” said Mark Hurd Chief Executive Officer, Oracle. “We intend to invest heavily in both products – engineering and distribution.”
Zach Nelson, Chief Executive Officer, NetSuite said, “NetSuite will benefit from Oracle’s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries.” Zach points out that, “Oracle is committed to protecting and enhancing customer investments in NetSuite solutions.”
In an article by Alex Konrad, Forbes’ Staff writer for venture capital, startups and enterprise tech, state “The deal, which values NetSuite at $109 per share at a 19% premium to where it traded a day before, represents the inevitable conclussion for a company that sought to strike out from its origins and a parent trying to catch up to its business offspring.”
“The NetSuite deal is at the heart of Oracle’s fight to remake itself for the modern world of cloud computing, or providing access to vast computational resources over the internet,” according to a recent NYTimes article about the acquisition.
Pending regulatory approvals and agreement by a majority of NetSuite shareholders, not owned by executives officers or directors of NetSuite, this transaction is expected to close in 2016.
For more information about NetSuite, please visit: www.oasisky.com/netsuite.
Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE: ORCL), visit www.oracle.com.
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. Visit at www.netsuite.com.
About Oasis Solutions Group
For over 25 years, Oasis Solutions Group has been helping customers improve the accountability, performance, and profitability of their business through the effective application and implementation of ERP and CRM software from trusted brands such as Sage, NetSuite, Sugar CRM, and now Act-On Marketing Automation. With nearly 20 employees, Oasis has demonstrated experience to ensure their customer projects are successful and meet the planned outcome.