NetSuite’s acquisition by Oracle, for $9.3 billion, was formally finalized on November 7
The announcement followed a period of uncertainty over the merger’s fate from the time it was first mooted in July. Since the approval of the merger, executives from NetSuite and Oracle have had very little to say about next steps, what form the Oracle-owned NetSuite may take, or which members of NetSuite’s executive team will stay on with the company post-merger. Now, there are indications of when we may hear something from the two companies.
Webcast should give some answers
Oracle and NetSuite announced that they would hold an exclusive webcast on December 1, titled “Oracle + NetSuite—Serving Startups to Global Enterprises.” Hosted by Oracle CEO, Mark Hurd, and NetSuite’s leadership team, the webcast will also include development executives from both NetSuite and Oracle who will provide detail of the combined companies’ upcoming roadmap.
Hurd, the announcement says, ‘will explain the benefits of the acquisition to customers, Oracle’s integration plans for NetSuite, and why customer choice remains the guiding principle for doing business with Oracle and NetSuite.’
There’s another piece of news in the announcement: Jim McGeever, who was NetSuite’s president and COO at the time of the merger, is described as “new head of the NetSuite Global Business Unit.” McGeever will appear on the webcast and “will share how Oracle plans to invest in NetSuite’s expansion into new industries and global markets, while bringing additional cloud capabilities to customers worldwide.”
Other than McGeever, the announcement does not mention either CEO, Zach Nelson, founder/CTO, Evan Goldberg, or any other NetSuite executive.
What does the merger mean for NetSuite developers, engineers or other professionals who work with the software? Perhaps we’ll find out more once the webcast takes place on December 1.
