Oracle has entered into an agreement to acquire RightNow, a provider of cloud-based customer service, for $43.00 per share or approximately $1.5 billion net of RightNow’s cash and debt.

The Board of Directors of RightNow Technologies has unanimously approved the transaction. The transaction is expected to close by late 2011 or early 2012, subject to RightNow stockholder approval, certain regulatory approvals and customary closing conditions. More information on the deal can be found here.

Thomas Kurian (Executive vice president, Oracle Development):“Oracle is moving aggressively to offer customers a full range of Cloud Solutions.