Oracle is paying $532 million to snatch up another cloud service provider

Hard on the heels of a similar purchase last week, Oracle has announced it will pay $532 million to buy Opower, a provider of cloud services to the utilities industry.

Once a die-hard cloud holdout, Oracle has been making up for lost time by buying a foothold in specific industries through acquisitions such as this one. Last week’s Textura buy gave it a leg up in engineering and construction.

“It’s a good move on Oracle’s part, and it definitely strengthens Oracle’s cloud story,” said Frank Scavo, president of Computer Economics.

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