Goodwin Procter recently advised client Eloqua, Inc., a maker of performance-management software for subscribers over the internet, on its sale to Oracle Corporation for $23.50 per share (an aggregate of over $930 million in cash for outstanding stock and vested options). The sale, which closed in February 2013, followed Eloqua’s initial public offering in summer 2012.
Eloqua, founded in Toronto in 2000, is headquartered in Vienna, VA. The company’s software automates marketing and sales initiatives and provides analysis and monitoring tools to users. Its customers include Adobe Systems, American Express and Dell.
Oracle (NASDAQ: ORCL), headquartered in Redwood City, CA., develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems. It also licenses various database and middleware software.
Goodwin Procter also represented Eloqua in its August 2012 initial public offering of 9.2 million shares priced at $11.50 per share.
The Goodwin team advising on the transaction included partners David Cappillo, Lisa Haddad and Stuart Cable (corporate); Janet Andolina (tax); Deborah Birnbach and Michael Jones (securities litigation); Carl Metzger (insurance and risk management); and Rob Hale (labor and employment).
To read the Oracle press release announcing the transaction, click here. Coverage of the deal included this article in The Wall Street Journal.