Oracle Buys Utitlities Cloud Services Company Opower For $532M

Oracle has entered into a definitive agreement to acquire Opower, a company that provides cloud services to utilities. The transaction is valued at approximately $532 million.

Opower’s big data platform stores and analyzes over 600 billion meter reads from 60 million utility end customers. The company’s clients include around 100 global utilities like PG&E, Exelon and National Grid, according to a statement released by Oracle. Opower be part of the company’s Utilities Industry Cloud Platform.

The board of directors of Opower has unanimously approved the deal. The transaction is expected to close in 2016, subject to Opower’s stockholders tendering a majority of Opower’s outstanding shares and derivative securities exercised prior to the closing of the tender offer, regulatory approvals ,and other customary closing conditions. Until the transaction closes, Oracle and Opower will continue to operate independently.

[Image courtesy: Opower]

Also see:

TransUnion to acquire Neustar for $3.1B

TransUnion has signed a definitive agreement to acquire Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC.

Huvr raises $5M

Huvr, a cloud-based industrial asset management solution company, has raised $5 million.

American Express acquires fintech company Kabbage

American Express has entered into an agreement to acquire Kabbage, a financial technology company that provides cash flow management solutions to small businesses.

AP to equip visual journalists globally with Sony imaging products

Sony and The Associated Press (AP) have inked a collaboration that will make Sony the exclusive imaging products and support provider for AP news photographers and video journalists globally.

Equifax acquires Ansonia

Equifax has acquired Ansonia, a provider of business credit, collections, and account receivable data used by financial institutions, creditors, and businesses focused on the transportation and logistics industries.