Oracle’s First Deal of 2014 Is for Corente
Software giant Oracle just signaled that it’s going to continue the pace of acquisitions it kept in 2013 by announcing its first deal of the new year. Financial terms of the deal were not disclosed.
Oracle says it will buy Corente, a company focused on software-defined networking based in Bernardsville, NJ. With software-defined networking technology, companies get the flexibility to deploy their networks in a more granular way so that different applications running in the data center get the bandwidth they need.
This is the second SDN acquisition for Oracle. In 2012 it picked up Xsigo Systems. But it’s Oracle’s fourth deal for a networking company since 2012. Last year it spent $1.7 billion to acquire Acme Packet and also acquired Tekelec.
Corente’s specialty is in software-defined wide-area networks that connect applications running in data centers distributed around the world.
Oracle shares rose 21 cents or about one-half of one percent on the New York Stock Exchange. (It shifted its listing away from the Nasdaq last year.) It’s also worth noting that Oracle shares have recently been trading at their highest levels in nearly 14 years. They’re trading at $37.71 this morning, but on Dec. 31 hit $38.34, which is the highest point they’ve hit since September of 2000.
Oracle completed eight acquisitions last year.