Oracle To Buy Utility Software Maker Opower

Oracle Corp (ORCL.N) will buy Opower Inc (OPWR.N), a maker of software for utilities, for about $548 million in cash.

The offer of $10.30 per share is at a premium of 30.4 percent to Opower’s close on Friday.

Oracle said on Monday the deal was worth about $532 million net of cash.

The equity value is based on Opower’s 53.2 million shares outstanding as of Feb. 29.

REUTERS