Oracle To Buy Cloud-Software Provider NetSuite For $9.3 Billion (bloomberg.com) 32
Oracle announced Thursday that it has agreed to buy NetSuite for $9.3 billion, in a move to bolster its cloud-computing offerings as it races to catch up to rivals. Both companies provide applications for running a business called enterprise-resource-planning software. Bloomberg reports: Oracle, which sells software to big corporations, has been trying to shift more sales to cloud-based products increasingly demanded by its customers. New cloud services made up about 8 percent of the company's total sales during its fiscal fourth-quarter. Buying NetSuite -- whose products include customer relationship management software -- will help Oracle compete against the likes of Salesforce.com Inc. and Microsoft Corp. "Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever," said Oracle co-Chief Executive Officer Mark Hurd in a statement Thursday. "We intend to invest heavily in both products -- engineering and distribution."
Re: MILLENNIAL SNOWFLAKES SHOULD BE FIRED (Score:1)
I agree, millennials are fucking lazy. They don't deserve to have jobs. Baby boomers are the best employees and millennials are the worst.
Re: MILLENNIAL SNOWFLAKES SHOULD BE FIRED (Score:1)
Trying to get a millennial to work is like debating an empty chair.
"forever" ! hubris much? (Score:2)
"... coexist in the marketplace forever".
when people use words like "most popular for all time" https://apple.slashdot.org/sto... [slashdot.org] , "best", "forever " for their products, in markets that is inherently changing and dynamic, they either don't know what they are talking about or are placing dishonest hype above truth.
in either case, customers should be beware of them and their hyped products, just for using that language.
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There is no future in cloud software. There is no such thing as a cloud, it means somebody else's computer. What use is it to run your software on somebody else's computer? This sounds like it was a poor idea in the first place, but with all the spying by Microsoft and Google for the American Government coming out now it seems very stupid in coming days.
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Perhaps, but being bullshit hasn't stopped a lot of products from selling. Rationality and sales are often not in alignment.
Usabilty & functionality (Score:5, Insightful)
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Maybe not considering NetSuite was co-founded by Larry Ellison in 1998 as NetLedger. Ellison sits on the board and owns 40%, which means he will net about $3.5 billion from the deal. Evan Goldberg is the other NetSuite co-founder and an Oracle alum who thought up the idea of doing CRM over the Internet while in a meeting at Oracle. Also in this meeting was Marc Benioff. Ellison thought it would be better to do financials before adding customer relations and Goldberg agreed, with Ellison funding it out of hi
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Who will benefit the most when the balloon pops?
The vultures, as in patent trolls. Nobody else will really benefit. The way you can benefit is to cash out when its still possible, then buy things that get undervalued as a result of the shock when the bubble bursts.
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:-) I noticed the pump and dump market trolls don't want to see their game exposed.
The vultures, as in patent trolls. Nobody else will really benefit.
Yeah, that's a given. I was kinda wondering which party is being set up as the pansy on Black Tuesday.
The way you can benefit is to cash out when its still possible...
Probably you can stay in it until around mid September, August for the really paranoid... Buy back in January, after the dust settles a bit, depending who wins.
Salesforce is an Oracle customer (Score:3)
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it's all weird and incestuous :)
Salesforce partnered up with Microsoft, probably to run a lot of their stuff on Azure. I mean, the Microsoft Dynamics family is probably smaller than SFDC, but they are still competitors.
One day we'll probably find out that Azure runs on the Amazon cloud and Google is hosted in a farm of MacMinis from a basement in Cupertino.
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I guess all of their other CRM products/platforms weren't very good (i.e. Seibel and others)......or maybe it's because Oracle already ran those into the ground and needed to buy some more customers.
Comment removed (Score:4, Informative)
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From what I understood NetSuite is half owned by Larry (as the Ultimate Controlling Entity), not Oracle directly. It would appear that he's just shifting the ownership from personal control to corporate control, and paying a handsome sum in the process
Solid business plan (Score:1)
To the Cloud!!!! (Score:3)
Oracle is all in on this cloud stuff. They were late to the cloud game and are now playing catch up to Salesforce and Workday. So now Oracle (and SAP as well) are snapping up cloud based products. It's the flavor of the month.
What Oracle has figured out is that it is actually more profitable to sell SAAS software than traditional on premise software. With on premise software you have to support lots of different databases and middle ware and OS's. That makes your development and testing exponentially more difficult and expensive. With SAAS you only have to support one stack - yours.
Customers give up a lot of control for the convenience of SAAS based products. And the dirty little secret is that SAAS actually costs you more money in the long run. This is why Oracle is so eager to jump on the cloud bandwagon. It's not about doing what their customers want - it's about making more money. On a conference call about 3 months ago Ellison came right out and said that cloud is more profitable.
Think of it like buying vs leasing a car. Leasing gives you convenience but every study I have read says that buying the car is cheaper in the long run. Eventually customers will catch on to this and cloud will vaporize. But until then there is money to be made and made it shall be.