Oracle to acquire NetSuite in $9.3B deal

Oracle agreed to purchase NetSuite for $9.3 billion to expand into the fast-growing cloud market.

Founded in 1998, NetSuite is considered a pioneer in the cloud-computing business. It created the first company dedicated to providing business applications online.

The acquisition would bring NetSuite into the fold with other Oracle-acquired companies Textura and Opower, both of which were bought to expand Oracle’s cloud business.

Read more from Reuters.