Oracle (ORCL) has announced it will acquire cloud-based configure, price and quote (CPQ) company BigMachines. The deal gives Oracle a cloud-based tool that can help sales organizations accelerate the conversion of opportunities into revenue through automation. The financial terms of the deal were not disclosed.
Oracle said the BigMachines acquistion, combined with Oracle's cloud solutions, will assist with developing an end-to-end smarter selling cloud solution for more productive sales personnel.
Oracle Development Executive Vice President Thomas Kurian said in a prepared statement that sales teams need to be provided with information, access and insights for maximized revenue opportunities.
"By adding BigMachines’ CPQ Cloud to the Oracle Cloud, companies will be able to drive more revenue and increase customer satisfaction with a seamlessly integrated process across marketing and sales, pricing and quoting, and fulfillment and service," he said.
BigMachines co-founder and former CEO Godard Abel said this acquisition may be an outcome of Oracle trying to play "catch-up" with Salesforce.com (CRM).
"A few years ago Larry Ellison dismissed the cloud as 'water vapor,' but now that many large companies, such as HP, GE and Symantec, are buying SaaS software from BigMachines and others, Oracle realizes they have to offer compelling cloud solutions, and acquisitions are the fastest way to get there," he said.
Oracle, however, declined to provide any additional comment on the acquisition beyond the prepared statements in the company's press release and on its website.
Oracle has continued to make build its cloud practice this year, most recently pushing out a cloud offering for its government customers.
Oracle said each company will continue to operate independently until the transaction closes.