Investing.com - Oracle (NYSE:ORCL) said Thursday it is to buy cloud company Netsuite for $9.3 bn.
Oracle agrees to pay $109 a share for Netsuite, whose shares closed Wednesday at $91.57.
Oracle and NetSuite cloud applications are complementary, Oracle chief executive Mark Hurd said.
"We intend to invest heavily in both products – engineering and distribution," he added.
The transaction set to close in 2016 pending acceptance of a majority NetSuite's shareholders.