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.
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