Monday, May 2, 2016

Oracle Buys Opower For $532M

Redwood Shores-based Oracle said this morning that it has acquired Opower, in a deal worth approximately $532M in cash. Opower is a provider of cloud-based, energy efficiency services and customer engagement tools for the energy and utility market. Oracle said it will pay $10.30 per share for publicly held Opower, which is listed on the NYSE as OPWR. Opower is based in Virginia, and counts such customers as PG&E, Exelon and National Grid. The company's services are used to store meter readings and offer up information to end users.