energy analytics corporation Opower stated Monday that it has struck a $532 million deal to sell itself to computing behemoth Oracle. The deal, slated to close later this yr, valued Opower’s shares at a 30 percentpremium on Friday’s close.
“big day today at the O: opower.com/oracle/ POW!!!!!!!” leader govt Daniel Yates tweeted hours after the deal become introduced.
Opower, primarily based in Arlington, Virginia, sells facts offerings that music strength-use traitsthroughout tens of millions of homes. more than a hundred utilities including PG&E and Exelon use theprovider to help meet nation–by–state energy efficiency standards.
final year, Opower suggested an working lack of just beneath $45 million (more or less Rs. 298 crores) with annual revenues of $145.7 million (more or less Rs. 966 crores). The agency turned into based in 2007 and went public in 2014.
In latest years, Opower has stepped past its middle analytical business to discover new methods ofassisting utilities interact with customers, together with notifying them by way of textual contentmessage whilst their energy use tendencies are spiking or otherwise out of whack.
“while strength efficiency has historically been the number one driving force of latest client acquisition, this year was the primary time we noticed purchaser care gasoline a enormous wide variety of offers,” Yates stated in a current call with buyers.
The company also has been making inroads the world over. In 2013, it announced a commercial enterprise partnership with the Tokyo electric powered strength, the japanese public application on themiddle of the Fukushima Daiichi nuclear power plant failure following a tsunami in 2011. In a recent call withbuyers, Opower’s leader monetary officer, Thomas Kramer, said 10 percent of the company‘s 2015revenue comes from international commercial enterprise.
For Oracle, the buyout is part of an aggressive flow to gather cloud-based totally data agencieschanging the manner severa entrenched industries function.
“The move to the cloud is a generational shift in generation this is the most important and maximumcritical opportunity in our company‘s records,” Oracle leader govt Safra A. Catz stated in a latest callwith traders.
On Thursday, the software massive introduced a $663 million buyout of Textura, which sells software forcreation management. In January, Oracle announced plans to buy net analytics firm AddThis and, a month later, stated it is shopping for cloud analytics firm Ravello systems.
Cloud computing services netted Oracle $735 million (kind of Rs. 4,874 crores) in the most recent zone, a40 percentage bounce from a year ago.
The information comes per week after Washington-place information site ARLnow suggested that Opower has let move about 7.5 percentage of its international personnel, mentioning confirmation from a agency spokesman.
The joint statement to promote the business enterprise contained no facts approximately succession plans or whether or not further layoffs could observe. An Oracle representative declined to comment, and an Opower consultant did no longer respond to requests for comment.
© 2016 The Washington put up
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