On July 28, 2016, Oracle announced plans to acquire NetSuite for $9.3 billion. While industry experts are busy weighing in on what this major move will mean for the cloud computing industry, current and potential NetSuite users may be wondering: What does this mean for me?
Alongside a press release announcing the deal, NetSuite released an Overview and FAQ document highlighting what NetSuite customers can expect from the acquisition:
“Business as usual” – Until the acquisition closes (expected in 2016), Oracle and NetSuite will continue to operate independently and will not make changes to product availability or support services. According to Mark Hurd, Oracle CEO, “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever…We intend to invest heavily in both products – engineering and distribution.”
“Expanded reach” – Oracle intends to use its complementary suite of products, technology resources, and global reach to help NetSuite fast-track the expansion of its cloud offerings to more industries and more countries.
“Accelerate the pace of innovation” – Throughout reports announcing the acquisition, Oracle representatives have emphasized the company’s commitment to enhancing NetSuite products, and “accelerat[ing] the pace of innovation in NetSuite functionality and capabilities.”
If you have questions about what Oracle’s acquisition of NetSuite means for your business, give us a call and ask to speak with one of our Cloud Enablement experts. We’d be happy to talk through your situation and explore areas where we might be able to help.