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October 24, 2011 5:29 PM

Latham, Dorsey Take Lead Roles On Oracle's $1.5 Billion RightNow Acquisition

Posted by Victor Li

In an effort to boost its cloud-computing capabilities, software giant Oracle announced Monday that it will acquire RightNow Technologies, a maker of leading cloud-based customer service applications, for approximately $1.5 billion.

The deal's terms call for Oracle to pay RightNow shareholders $43 per share, according to the Oracle statement announcing the acquisition, which is expected to close by early 2012.

Oracle turned to a familiar face for legal advice on the transaction: San Franciso–based Latham & Watkins corporate partner John Newell. Newell represented the company in 2009 when it bought Sun Microsystems for $7.4 billion in Oracle's largest-ever acquisition. The New York Times reports that the RightNow deal represents Oracle's acquisition of RightNow, and is its largest since the Sun transaction.

Newell was assisted by competition law partners Joshua Holian and Karen Silverman, both in San Francisco and tax partner Laurence Stein, in Los Angeles.

RightNow was represented by Dorsey & Whitney partners Jack Manning and Parker Schweich. The two were assisted by corporate partner Tim Hearn, regulatory partner Michael Lindsay, and taxation partner John Chase. According to the firm, it has represented RightNow since soon after the company's founding and managed its initial public offering in 2004.

The acquisition is Oracle's second significant cloud-focused acquisition in less than a week and its fifth in less than a year. In November 2010 Oracle acquired Art Technology Group, an e-commerce software company, for $1 billion. It followed that deal by acquiring FatWire Software, a web content management software maker, for an undisclosed price in June; InQuira, a customer relationship management (CRM) company, for an undisclosed price in July; and Endeca Technologies, a business intelligence and web commerce solutions provider, earlier this month.

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