Oracle buys energy analytics provider Opower for USD 532 mln

Tuesday 3 May 2016 | 08:34 CET | News

Oracle has announced a deal to acquire Opower, a provider of customer engagement and energy efficiency cloud services to utilities, for around USD 532 million in a transaction expected to close later on this year. In a statement, Oracle said Opower’s solutions enable over 100 global utilities, such as PG&E, Exelon and National Grid, to deliver a modern digital customer experience via a big data platform that stores and analyses over 600 billion meter reads from 60 million utility end customers. “Together, Oracle Utilities and Opower will be the largest provider of mission-critical cloud services to utilities,” said the company. Opower was founded in 2007 and went public in 2014, last year reporting revenues of USD 145.7 million. 

The acquisition follows Oracle’s recent USD 663 million buyout of another cloud-based data company called Textura, which provides cloud-based contract and payment management solutions for the construction industry.

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