Oracle Plunks Down $532M for Customer Engagement Firm Opower

Oracle on Monday announced that it has agreed to acquire Opower for $532 million in cash. More than 100 global utilities, including PG&E, Exelon and National Grid, use Opower’s customer engagement and energy efficiency cloud services, Oracle said. Opower’s big data platform stores and analyzes more than 600 billion meter reads from 60 million end customers of utilities. The transaction is expected to close later this year. “This acquisition brings together two synergistic areas,” analyst Holger Mueller said.

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