Oracle to buy Opower

WASHINGTON BUSINESS JOURNAL: Oracle is set to acquire the energy software company Opower for $532 million.

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The deal works out to $10.30 per share in cash, a 30 percent premium on Opower’s Friday closing price of $7.90. Opower (NYSE: OPWR) stock immediately shot up more than 30 percent after the opening bell.

Opower CEO and co-founder Dan Yates said the purchase will allow the companies to offer a complete series of cloud applications for utilities from the grid to end customers.

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