The Associated Press | Monday, October 24, 2011
Software company Oracle says it is buying RightNow Technologies Inc. for about $1.5 billion so it can offer a broader range of software and services that help businesses manage customer service.
Oracle Corp. said Monday it offered $43 per share for the tech service company from Bozeman, Montana. That is a 19.6 percent premium over RightNow's closing price of $35.96 on Friday.
RightNow's board has agreed to the deal which is subject to shareholder approval. Oracle expects to complete the deal by late this year or early next.
RightNow's main product helps companies manage customers' questions and complaints. It is delivered over the Internet — or "cloud" —rather than by installing software directly on computers.
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