Oracle buys FatWire Software
Business software maker Oracle Corp. said Tuesday that it has agreed to buy FatWire Software, a provider of Web experience management software, for an undisclosed sum.
FatWire, based in Mineola, N.Y., helps companies built up and manage their online presence and the interactions they have with customers.
"The addition of FatWire products will give Oracle the ability to provide a complete suite of software that empowers web marketers to engage visitors, converting more prospects to customers, and enhancing customer loyalty," said Hasan Rizvi, senior vice president at Oracle, in a statement.
The deal is expected to close shortly.
On Monday, Adobe Systems Inc. announced it is launching a new "customer experience management" platform for businesses to help them interact with their customers online, on mobile devices and elsewhere. The software makers' efforts signal the growing importance companies place on interacting with their customers directly on the Web.
Shares of Oracle rose 2 cents to $31.93 in morning trading. Shares of Adobe, which reports quarterly earnings after the closing bell Tuesday, rose 56 cents, or 1.8 percent, to $31.51.