News

Oracle boasts cloud offer with acquisition of RightNow Technologies

BY Marianne Wilson

New York City — Oracle Corp. said it will acquire RightNow Technologies, a leading provider of cloud-based customer service, for approximately $1.5 billion. The acquisition follows Oracle’s recent announcement that it is purchasing Endeca, a provider of unstructured data management, web commerce and BI solutions.

RightNow focuses on customer experience across contact channels. Its Customer Service Cloud is geared at customer interactions and data for call centers, social networks and the web, according to RightNow’s website.

The deal is a boost to Oracle’s Public Cloud business, and it bolsters its presence in call center and social networking spaces. Oracle is offering $43 per share for the tech service company, which is based in Bozeman, Mont.

"Oracle is moving aggressively to offer customers a full range of Cloud Solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud," said Thomas Kurian, executive VP Oracle Development, in a statement. "RightNow’s leading customer service cloud is a very important addition to Oracle’s Public Cloud."

The purchase will be completed late this year or in early 2012, subject to customary closing conditions.

"RightNow’s products add leading customer experience capabilities that help empower companies to interact with and provide a consistent customer experience across channels," said RightNow CEO Greg Gianforte. "We look forward to combining our complementary capabilities."


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OPERATIONS

Harry & David’s names Craig Johnson as CEO

BY Staff Writer

Medford, Ore. — Harry & David Holdings has named Craig Johnson as its CEO.

Johnson most recently served as chief supply chain officer of Guitar Center. Prior to that, he was CEO of Musician’s Friend, a Guitar Center subsidiary. He has also held positions at Oriental Trading Co., Golfsmith International Holdings, and Coldwater Creek.

The company exited Ch. 11 bankruptcy protection last month.

"With its successful restructuring now complete, improved capital structure in place and an outstanding harvest and holiday gift selection, the company is poised for a successful holiday season," Johnson said in a statement.

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FINANCE

VF Q3 profit up 24%

BY Staff Writer

New York City — VF Corp. reported that its third-quarter net income rose 24% on higher prices and sales, and raised its full-year outlook and quarterly dividend.

The clothing and footwear company said profit growth came from its September acquisition of Timberland and strong sales across most of its categories.

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