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Oracle announced on Thursday that it plans to buy Eloqua, a provider of cloud-based marketing automation and revenue performance-management software for $871 million.
Oracle says Eloqua's modern marketing cloud ensures that every component of marketing works harder and more efficiently to drive revenue.
The pairing is expected to create a comprehensive customer-experience cloud offering to help companies transform the way they market, sell, support and serve their customers. The companies want to enable organizations to provide a highly personalized and unified experience across channels, create brand loyalty through social and online interactions, grow revenue by driving more qualified leads to sales teams, and provide superior service.
Eloqua's board unanimously approved the deal, which is subject to stockholder and regulatory approval. Look for it to close in the first half of 2013.
"Modern marketing practices are driving revenue growth and is a critical area of investment for companies today," said Thomas Kurian, executive VP, Oracle Development. "Eloqua's leading marketing automation cloud will become the centerpiece of the Oracle Marketing Cloud and is an important addition to the Oracle Customer Experience offering, which includes the Oracle Sales Cloud, Oracle Commerce Cloud, Oracle Service Cloud, Oracle Content Cloud and Oracle Social Cloud."
"Exceptional customer experience starts with knowing your customer's preferences and delivering a highly personalized buying experience," said Joe Payne, Chairman and CEO, Eloqua. "Together with Oracle, we expect to accelerate the pace of the modern marketing revolution and help our customers transform the way they market, sell, support and serve their customers."
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