Arlington-based utility software company Opower announced on Monday that it has entered an agreement to be acquired by software giant Oracle. The acquisition is valued at $532 million.
Opower’s software offerings that enable utilities companies to operate a digital customer service experience fit nicely with Oracle Utilities’ “suite of operational applications and cloud services for global electric, gas and water utilities.”
“Together,” a statement on the Oracle website declares, “Oracle and Opower will provide the industry with the most complete, modern and integrated cloud platform for the entire utility value chain, from meter to grid to end-customers.”
Together, @oracleutilities & @Opower will become largest provider of mission-critical #cloud services to utilities https://t.co/sgkZEdd2Jj
— Oracle (@Oracle) May 2, 2016
“We are excited to join Oracle and to bring even more value to our customers as part of the Oracle Utilities Industry Cloud Platform,” Opower CEO Dan Yates said in a press release.
Before you go...
Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.
3 ways to support our work:- Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
- Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
- Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
The person charged in the UnitedHealthcare CEO shooting had a ton of tech connections
Northern Virginia defense contractor acquires aerospace startup in $4B deal
From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game
