Oracle to buy NetSuite for $9.3 billion

NEW YORK: Oracle Corp will buy NetSuite Inc for $9.3 billion to expand into the cloud market. Oracle’s $109 per share offer is at a 19% premium to Netsuite’s Wednesday close. Oracle is focussing on the cloud-based model, providing services via data centres, rather than selling installed software. NetSuite created the first company dedicated to providing business applications over the internet.