Oracle Buys Responsys for $1.5 Billion

San Bruno-based Responsys, a marketing cloud software and services company, has entered into an agreement to be acquired by Oracle for $27.00 per share or approximately $1.5 billion, Responsys announced Friday.

"Responsys has always been focused on helping marketers realize their largest opportunity - coordinating their marketing touch points across channels, across the customer lifecycle, and across industries, and as a part of Oracle, we will only accelerate our efforts," said Dan Springer, CEO, Responsys. "Oracle not only shares our vision, but is the proven leader in bringing together best-in-class technologies and companies to realize the largest enterprise opportunities. We couldn't be more excited about what this means for our customers and employees."

The Board of Directors of Responsys has unanimously approved the transaction. Next comes regulatory approval from the U.S. Securities and Exchange Commission.

The transaction is expected to close in the first half of 2014.