Oracle is buying cloud company NetSuite in a deal valued at about $9.3 billion. Oracle CEO Mark Hurd said in a statement on Thursday that the two company’s cloud applications are complementary. “We intend to invest heavily in both products – engineering and distribution,” he said. NetSuite Inc. stockholders will receive $109 per share, a 62 percent premium to the company’s Wednesday closing price of $67.42. The transaction is expected to close this year. Oracle Corp.’s stock rose 80 cents, or 2 percent, to $41.73 in premarket trading. |