Oracle announced its deal to acquire Opower, a provider of customer engagement and energy efficiency cloud services to utilities, for $532 million.
Oracle aims to become the largest provider of mission-critical cloud services to utilities following the acquisition of Opower.
Dan Yates is the chief executive officer and co-founder of Opower. The US-based Opower is an enterprise software company. Energy providers use Opower’s customer engagement platform to deliver digital communications that manage energy demand, and lower service costs. Opower’s software is deployed to 100 utilities worldwide and reaches more than 60 million homes and businesses.
Opower’s solutions enable over 100 utilities, such as PG&E, Exelon and National Grid, to deliver a modern digital customer experience.
Opower’s big data platform stores and analyzes over 600 billion meter reads from 60 million utility end customers, enabling utilities to proactively meet regulatory requirements, decrease the cost to serve, and improve customer satisfaction.
“Utilities want modern technology solutions that work together to meet their evolving customer, operational and compliance needs,” said Rodger Smith, senior vice president and general manager, Oracle Utilities Global Business Unit.