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Oracle to buy utility software maker Opower
The Oracle logo is seen on its campus in Redwood City, California June 15, 2015.
Reuters/Robert Galbraith
Oracle Corp (ORCL.N) will buy Opower Inc (OPWR.N), a maker of software for utilities, for about $548 million in cash.
The offer of $10.30 per share is at a premium of 30.4 percent to Opower's close on Friday.
Oracle said on Monday the deal was worth about $532 million net of cash.
The equity value is based on Opower's 53.2 million shares outstanding as of Feb. 29.
(Reporting by Rishika Sadam in Bengaluru)
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