Oracle buys Israeli cloud company Ravello

Business software maker Oracle Corp, which is seeking to expand its cloud business, has agreed to buy Israeli cloud software company Ravello Systems, the two firms said on their websites on Tuesday. Officials at Ravello and Oracle declined to comment. Ravello, which was founded in 2011 and employs about 60 people, has raised $54 million, with its largest shareholders being Norwest Venture Partners, Sequoia Capital and Bessemer Venture Partners.