[Techtaffy Newsdesk]

Oracle has entered into an agreement to acquire Eloqua a provider of cloud-based marketing automation and revenue performance management software for $23.50 per share or approximately $871 million, net of Eloqua’s cash.

Thomas Kurian (Executive Vice President, Oracle Development):  Modern marketing practices are driving revenue growth and is a critical area of investment for companies today.

The Eloqua board has unanimously approved the transaction. The deal is expected to close in the first half of 2013, subject to regulatory approvals and customary closing conditions.

Eloqua is headquartered in Vienna, Virginia. The company’s cloud software, professional services and education programs provide marketers with the technology and expertise needed to help drive revenue. It has over 100,000 global users from companies both large and small, according to its corporate website.

[Image courtesy: Eloqua]