Oracle is paying US$532 million to snatch up another cloud service provider

The move follows its purchase of Textura last week for $663 million

Hard on the heels of a similar purchase last week, Oracle has announced it will pay US$532 million to buy Opower, a provider of cloud services to the utilities industry.

Once a die-hard cloud holdout, Oracle has been making up for lost time by buying a foothold in specific industries through acquisitions such as this one. Last week's Textura buy gave it a leg up in engineering and construction.

"It’s a good move on Oracle’s part, and it definitely strengthens Oracle’s cloud story," said Frank Scavo, president of Computer Economics.

Opower's big-data platform helps utilities improve customer service, reduce costs and meet regulatory requirements. It currently stores and analyzes more than 600 billion meter readings from 60 million end customers. Opower claims more than 100 global utilities among its clients, including PG&E, Exelon and National Grid.

Opower will continue to operate independently until the transaction closes, which is expected later this year. The union will create the largest provider of mission-critical cloud services to an industry that's worth $2.3 trillion, Oracle said.

Oracle's Utilities business delivers applications and cloud services that automate core operational processes and enable compliance for global electric, gas and water utilities.

"Oracle’s industry organizations maintain unique domain knowledge, specialized expertise and focused product investments," said Rodger Smith, a senior vice president who leads the Utilities global business unit, in a letter to customers and partners. "This model has proven highly successful across several industries, and we look forward to bringing these same benefits to the customers of Opower."

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Katherine Noyes

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?