Oracle to Buy Opower
Oracle has announced plans to acquire Opower, a provider of customer engagement and energy efficiency cloud services to utilities, for approximately $532 million.
Opower's solutions enable more than 100 global utilities, such as PG&E, Exelon, and National Grid, to deliver a modern digital customer experience. Opower's big data platform stores and analyzes more than 600 billion meter reads from 60 million utility customers.
"Utilities want modern technology solutions that work together to meet their evolving customer, operational and compliance needs," said Rodger Smith, senior vice president and general manager of the Oracle Utilities Global Business Unit, in a statement. "Together, Oracle Utilities and Opower will be the largest provider of mission-critical cloud services to utilities."
"The combination will provide the industry with the most modern, complete cloud applications for the entire utility value chain, from meter to grid to end-customers," said Dan Yates, CEO and co-founder of Opower, in a statement. "We are excited to join Oracle and to bring even more value to our customers as part of the Oracle Utilities Industry Cloud Platform."
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