After having failed to disrupt, the operation of redemption of NetSuite by Oracle is finally concluded. The it group american will spend $ 9.3 billion dollars to put the hand on the a publisher specializing in management software in the cloud, it is accessible at a distance and charged to the consumer rather than in the form of a license.
at the End of July, immediately after the first announcement of the transaction, the critics had fused. The redemption price, $ 109 per share, represents a premium of 30 % on the value of the title before the first rumors. However, the main shareholder of NetSuite is none other than… Larry Ellison, the co-founder and current president of Oracle, who owns with her family 40 % of the capital. To answer the obvious questions of conflict of interest, the success of the operation had therefore been conditioned to the fact that a majority of the other shareholders (excluding Larry Ellison and the management team of NetSuite) bring their titles, either a minimum threshold of 20.4 million shares held by independent.
A condition difficult to meet
This condition has proved difficult to fill. By two times, Oracle has extended the deadline of its offer. First to 6 October, but only about a quarter of the securities had been made, and then to November 4, Oracle to the effect that it was the ultimate period of time and that it would not be to buy NetSuite if he didn’t get the green light from the independent shareholders. Finally, 53,21 % accepted the proposal, paving the way for the reconciliation.
For Oracle, the acquisition of NetSuite, the pioneer of software in the cloud, adds to several others made this year (Opower, Textura etc.) which must come to strengthen the company’s capabilities in the field. The cloud still represents a fraction of the income (11 %) of the number one in the world of databases, but this is where the group sees its future and, already, the segment recording the highest growth (+59 % in the last quarter).
Sébastien Dumoulin, Les Echos
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