The acquisition deal is valued at about $9.3 bn. Netsuite shares rose 18.6% to $108.64 in premarket trading, just shy of the offer price of $109 per share. Like rivals SAP and Microsoft, Oracle has focused on moving its business to the cloud-based model, essentially providing services remotely via data centers rather than selling installed software. Oracle shares were up 1.6% at $41.6 in premarket trading.

Oracle to buy NetSuite to expand into the cloud market

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