Oracle has agreed to acquire Eloqua, a SaaS company that describes itself as a "provider of cloud-based marketing automation and revenue performance management software" for B2B marketers. The 13-year-old, Toronto-based company was acquired for $23.50 per share, or approximately $871 million.
Oracle is planning to use Eloqua's assets to build out its multi-channel customer service and lead generation products, Oracle indicated in a press statement.
The acquisition is expected to close in the first half of next year pending regulatory and Eloqua stockholder approval. Eloqua's board of directors has already greenlighted the deal.
Oracle has been acquiring cloud-based, B2B marketing software companies left and right. In May, it bought Vitrue for $300 million, followed by Involver for an undisclosed amount in July.