Oracle to buy cloud-based marketing software firm Eloqua for $810 mn

Enterprise software giant Oracle Corp, yesterday agreed to buy Eloqua Inc, a web-based marketing automation software company, for about $810 million, in order to expand its cloud-based computing services.

Oracle, a late entrant into the cloud computing market, has offered to pay the recently listed Eloqua $23.50 per share, or about $871 million. Including the cash Eloqua has on hand, the deal works out to about $810 million.

Eloqua's board of directors has approved the deal, which is expected to close in the first half of 2013 after customery approvals.

Redwood, California-based Oracle said that the merger is expected to create a comprehensive cloud offering that will help companies transform the way they market, sell, support and serve their customers.

''The combined offering is expected to enable organisations to provide a highly personalised 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 at every touchpoint.''

Virginia-based, Eloqua, which raised $92 million in August through an IPO, specialises in products that allow companies to customise and measure the effectiveness of marketing campaigns and helps them by using software programs via the cloud instead of storing them on their servers.