Oracle said Tuesday it had agreed to buy corente , a company based in the cloud, in a move that pushes the time when the technology giant shy elsewhere in the Internet age .
Oracle expects that the ‘ deal to close in the first half of 2014, subject to regulatory approval, according to a presentation on the company’s website. Terms of the acquisition were not disclosed.
It is at least the third major purchase of a cloud-based platform for Oracle, which is a gradual change in strategy in recent years. The company has historically generated most of its revenue from the sale of hardware and software installed, and hesitated in the past to support a business model of competition.
” Oracle customers need solutions that include data center networks and global networks, “Edward Screven, Oracle’s chief corporate architect, said in a statement.”Combining Oracle’s technology portfolio with industry leading network platform corente software-defined global network extends, companies will be able to provide a simple and secure applications and cloud services for their offices distributed throughout the world. ”
Representatives from Oracle are not being reached for further comment.Companies have increasingly turned to cloud-based strategies, enabling companies to streamline various operations into a single digital hub. Oracle, led by billionaire Lawrence J. Ellison, Oracle Public Cloud began in 2011, announcing that the subscription based service provided to customers, ” high performance, a reliable, resilient and secure their business-critical applications.”Corente , a privately held company headquartered in New Jersey, provides technologies for cloud-based companies such as British Telecom and Illinois Tool Works , a manufacturer of equipment delivery , according to the company’s website .
Oracle bought Taleo , a maker of software for human resources in line , for $ 1.9 billion in 2012. Last year, it acquired RightNow Technologies, a maker of customer service software web based, for $ 1.43 billion.The company has purchased the technology companies more than half a dozen last year, including enterprise software company Responsys in December.