Oracle Corp is buying NetSuite Inc., the company that acquired Durham-based Bronto a year ago, in a deal valued at $9.3 billion. Netsuite shares jumpd more than 18 percent to $108.64 in premarket trading, just under the $109 offer price.
NetSuite was the first company to sell business apps over the Internet following its founding in 1998, thus prefiguring the cloud computing era.
Oracle has been steadily moving business to the cloud, providing services from data centers rather than installing software. It acquired other companies to boost its cloud expetise, including Textura and Opower.
In a statement, Oracle CEO Mark Hurd said both companies make cloud apps that are complementary.
Netsuite said it would benefit from Oracle’s global scale and reach, accelerating the availability of its cloud solutions.
Netsuite bought Bronto, founded in 2002, for $200 million in 2015. There is no word yet on what effect the buy will have on Bronto, which found its association with the company positive according to reports.
