Oracle said that a majority of shares -- 53 percent -- owned by eligible stockholders in the vote had been tendered. Under conditions of the deal, the transaction had to be approved by a majority of small, independent NetSuite shareholders, which excluded Ellison. The deal allows Oracle to incorporate NetSuite's cloud-based financial management and resource planning products, strengthening its tools in the cloud. For the 2017 fiscal first quarter ended August 31, Oracle reported total revenues of $8.6 billion, up two percent from a year ago. Total cloud revenues shot up 59 percent to $969 million.

Source: The Nation Bangkok November 06, 2016 00:01 UTC