RightNow Stockholders Approve Merger with Oracle
23 December 2011 - 3:28AM
Business Wire
RightNow Technologies, Inc. (NASDAQ: RNOW) (“RightNow”) today
announced that at the Company’s Special Meeting of Stockholders
held today, stockholders voted overwhelmingly to approve the
proposed merger with an indirect wholly owned subsidiary of Oracle
Corporation (NASDAQ: ORCL) (“Oracle”).
Approximately 99.8% of the shares voting at today’s Special
Meeting of Stockholders voted in favor of the approval and adoption
of the merger agreement, which represented approximately 87.0%
percent of RightNow’s total outstanding shares of common stock as
of the November 8, 2011 record date for the Special Meeting.
Greg Gianforte, founder and CEO of RightNow, said, “We are
pleased by the strong support we have received from our
stockholders, with 87.0% of the shares voting in support of the
transaction. We look forward to working with Oracle to realize the
significant value this combination will bring to our stockholders
and all the new opportunities it will provide our dedicated
employees, customers, and partners.”
As previously announced on October 24, 2011, RightNow and Oracle
entered into a definitive agreement for Oracle to acquire RightNow
for $43.00 per share in cash, or a total of approximately $1.5
billion net of RightNow's cash and debt. Completion of the proposed
merger remains subject to regulatory approval and the satisfaction
or waiver of the other closing conditions specified in the merger
agreement.
About RightNow Technologies
RightNow is helping rid the world of bad experiences one
consumer interaction at a time, eight million times a day. RightNow
CX, the customer experience suite, helps organizations deliver
exceptional customer experiences across the web, social networks
and contact centers, all delivered via the cloud. With more than
ten billion customer interactions delivered, RightNow is the
customer experience fabric for nearly 2,000 organizations around
the globe. To learn more about RightNow, go to
www.rightnow.com.
RightNow is a registered trademark of RightNow
Technologies, Inc. NASDAQ is a registered trademark of The
NASDAQ Stock Market LLC.
Safe Harbor for Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
indicated in such forward-looking statements, including, but not
limited to, the ability of the parties to consummate the proposed
Merger; satisfaction of closing conditions, including regulatory
approval, to the consummation of the proposed Merger; the impact of
the announcement or the closing of the Merger on RightNow’s
relationships with its employees, existing customers or potential
future customers; the ability of Oracle to successfully integrate
RightNow’s operations and employees; the ability to realize
anticipated synergies and costs savings of the proposed Merger; and
such other risks detailed in RightNow’s Quarterly Report on Form
10-Q filed with the SEC on November 4, 2011, which contains and
identifies important factors that could cause actual results to
differ materially from those contained in the forward-looking
statements. Forward-looking statements contained in this press
release speak only as of the date hereof. RightNow assumes no
obligation to update any forward-looking statement contained in
this press release.
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