Oracle to buy cloud provider NetSuite for $9.3 billion

Oracle has entered into an agreement to buy NetSuite, which provides cloud-based accounting, enterprise resource planning, customer relationship management, and other business software packages, for US$9.3 billion.The NetSuite package of products is complementary to Oracle's cloud products and the companies' cloud packages will "coexist in the marketplace forever," Mark Hurd, Oracle's CEO, said in a press release.The deal will allow Oracle to serve a broader range of customers, including sm