US-based software giant Oracle announced today that it will spend $1.5 million in a deal to acquire email marketing firm Responsys. The said transaction values Responsys' shares at $27 apiece, according to AllThingsD.
The said deal represents a 38% premium over the Thursday closing price of Responsys. The firm went public in a 2011 IPO with its shares priced at $12 apiece, the report said.
Responsys has been reported as a probable acquisition target since Salesforce.com picked up ExactTarget earlier this year for $2.5 billion. The deal leaves Constant Contact, another email marketing firm, available as an acquisition target, the report stated.
According to Oracle, Responsys will be combined with Eloqua, another recent acquisition. The software giant bought Eloqua a year ago for $871 million. The planned merger between the two acquisitions will result in a marketing cloud product for business-to-business and business-to-consumer deals, the report explained.
The acquisition deal will close in early 2014, AllThingsD reported.
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