Oracle buys cloud marketing platform Vitrue
REDWOOD SHORES, Calif. (AP) — Just a day after rival SAP AG announced its latest "cloud" deal, software maker Oracle Corp. said Wednesday that it is buying Vitrue, which helps companies manage marketing campaigns on social media networks such as Facebook and Twitter.
Financial terms of the deal were not disclosed.
The business software maker was once dismissive of cloud computing, which refers to the practice of companies storing software and information on remote servers kept outside the office, rather than on the corporation's own machines.
But Oracle is now expanding into the field as part of its effort to create a one-stop technology shop for big companies and government agencies.
Oracle's competitor, Germany-based SAP AG, announced a $4.5 billion cloud computing acquisition on Tuesday, of Ariba Inc.
Oracle, based in Redwood Shores, Calif., expects the Vitrue acquisition to close this summer.
Shares of based Oracle were flat at $26.36 in midday trading.