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Oracle acquires AI company; Needham starts ORCL and Red Hat

Published 10/23/2018, 10:31 AM
© Reuters.  Oracle acquires AI company; Needham starts ORCL and Red Hat
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  • Oracle (NYSE:ORCL) buys cloud-based AI data engine company DataFox for undisclosed terms. The acquired tech will enhance Oracle Cloud Applications.
  • DataFox’s data engine continually extracts detailed company-level data from over 2.8M public and private businesses. The company adds 1.2M businesses annually.
  • DataFox raised $19M at a $33M valuation in January 2017. Backers included Slack, GV, and strategic investor Goldman Sachs (NYSE:GS).
  • In other Oracle news, Needham initiates ORCL at Hold alongside Red Hat (NYSE:RHT), which gets a Buy rating and a $183 price target. (Source: StreetAccount).
  • Oracle shares are down 0.7% to $47.62. Red Hat shares are down 1.4% to $120.20.
  • Now read: Red Hat Stumbles, Yet Again


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