Oracle to buy NetSuite for $9.3 billion to gain cloud computing clout

NetSuite shares rose about 18 percent to $108.07 shortly after midday, just shy of the offer price of $109 in cash per share. Oracle and NetSuite both offer software applications that help companies automate back end and administrative operations from technology to human resources. Like its rivals such as SAP SE , Amazon.com Inc and Microsoft Corp , Oracle has focused on moving its business toward the cloud-computing model as sales of traditional software licenses struggle.