Broncos, Oracle, Larry Ellison discussed on TechStuff



Auction item and at that point you stop because he wouldn't want to sell for less than what the thing is actually worth now or has been set as a reserve price anyway worth is a difficult concept when it comes to auctions so one thing else i wanted to talk about is that net sweet has acquired a few companies since it launched since its ipo in two thousand seven and two thousand eight they bought a company called open air that specialized in web based expense reports and timesheets in two thousand nine net sweet acquired quick arrow which created professional services automation products and other acquisitions include e company retail anywhere in two thousand thirteen an email service provider broncos off where in two thousand fifteen and there were a lot of others as well but now net sweet itself is an acquisition or has been acquired back in two thousand sixteen oracle announced its intention to purchase net suite for a cool nine point three bill million dollars technically this involved talking with investors and making an agreement to buy back fifty percent of the stocks that were out in circulation so that ellison larry ellison would essentially get more control over it because he and his family had nearly fifty percent of the company not quite maroon fortyseven percent and the the deal meant that the selling price for that other stock that other people were holding was actually higher than what the trading price was this is how they were able to buy out the some of the other investors and so it was a deal that was valued at about nine point three billion dollars now oracle also deals in cloud based solutions for customers and like i've mentioned it's had a pretty tight relationship with net sweet throughout its history some analysts pointed out that the acquisition solved a problem that oracle is running into net sweet head more of a presence with mid sized companies a market the oracle wanted to really get into and.

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