With the completion of the US$9.3 billion acquisition of ERP provider NetSuite earlier last month on November 7, Oracle outlined what customers should be expecting in the coming months. Co-CEO Mark Hurd made one point clear – NetSuite will continue as its own global business unit and that Oracle intends to invest in the product line. “NetSuite products will go on forever. Our intent is to keep NetSuite and invest in it,” said Hurd. “Customers will get access to all of Oracle’s resources and Oracle’s [software] stack .”
Hurd added that there are no plans to change any of NetSuite’s pricing. “Our intention is not to do anything from a pricing perspective, but you will probably have the honor of a broad set of people trying to cross-sell you,” he said.
In the event held at the Oracle headquarters in the US on December 1, the word “more” was the operative term used to describe the future offerings for the market.
“It’s important to say that we’re thrilled,” said Oracle co-CEO Mark Hurd, who repeatedly insisted there was very little overlap between the two companies.
According to Oracle, NetSuite would have ‘more access’ to developer resources, data centres for global expansion, sales and marketing and access to various Oracle services including Infrastructure as a Service and Oracle Enterprise Performance Management (EPM).
Hurd sees NetSuite’s value in completing the range of cloud offerings reaching out to every possible customer from small to mid-sized. “Now we can go from startups to the largest enterprise companies with our solutions,” he said.
Oracle announced its intention to acquire NetSuite in July, but the deal just closed on November 7. Hurd said a major reason for the December 1 briefing was to discuss what the deal means for each company’s customers. As public companies, there were restrictions on what officials could say while the deal was pending regulatory approval.
NetSuite CEO Zach Nelson was notably absent from the event, but Hurd said Nelson is staying on as an evangelist for the NetSuite cloud suite and ERP. “He’s done a fantastic job with Evan [Goldberg, NetSuite founder] and Jim [McGeever, NetSuite president] and we’re thrilled to have him help us,” said Hurd.