Oracle Corp, the company known for its Business software’s, has announced that it has bought Israeli cloud software company Ravello Systems, Both the companies have confirmed this on their websites on Tuesday.
The amount of the deal is not disclosed as of now; according to Israeli media report the paid amount for this deal could be in between $400 million (roughly Rs. 2,739 crores) to $450 million (roughly Rs. 3,082 crores). Oracle said that all Ravello employees would join Oracle as part of Oracle Public Cloud. As part of this Oracle seems to establish its own cloud technology research and development center in Israel
The process will accelerate Oracle’s ability to help customers move complex applications to the cloud, Ravello Chief Executive Rami Tamir said on his company’s website.
Cloud computing enables services to be delivered to companies over the Internet and also reduces any extra development costs which could be required to set up a separate development place. The internet-based data storage technology allows users to store data beyond their own computer.
Ravello, utilises public clouds such as Amazon Web Services or Google Cloud, enables enterprises to easily move large applications to the cloud.
“An organisation which may be developing a complicated piece of software can now leverage rental economics (of the cloud) without buying servers,” Bessemer partner Adam Fisher told Reuters. “There is no way to do that except by rewriting the application or by using a unique service like Ravello.”
Ravello, was founded in 2011 with 60 employs, and raised $54 million (roughly Rs. 370 crores), from Norwest Venture Partners, Sequoia Capital and Bessemer Venture Partners.