Oracle Acquires Opower, Cloud-based Data And Performance Management Provider For Utility Companies

Oracle has acquired Opower, provider of cloud and big data solutions to global utility companies such as PG&E, Excelon and National Grid, for roughly $532M or $10.30 per share. Opower stores data from meter readings of over 60 million end customers of utility companies and subsequently analyzes those meter readings to help utility companies achieve regulatory compliance, optimize performance, decrease costs and improve the customer experience more generally. Opower will join Oracle Utilities in a union that marks one of the industry’s largest provider of cloud and big data solutions to utility vendors. The transaction is expected to be finalized in 2016 and comes head on the heels of last week’s purchase of Textura, provider of cloud-based contract and payment services for the construction industry, for $663M.

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