Oracle to buy utility software maker Opower

02 May, 2016 5:34 pm

NEW YORK – Oracle Corp (ORCL.N) will buy Opower Inc (OPWR.N), a maker of software for utilities, for about $548 million in cash.

The offer of $10.30 per share is at a premium of 30.4 percent to Opower’s close on Friday.

Oracle said on Monday the deal was worth about $532 million net of cash.

The equity value is based on Opower’s 53.2 million shares outstanding as of Feb. 29. –Reuters

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