Oracle Continues Cloud Company Acquisitions With LogFire Buy
Global IT provider Oracle continues its wave of cloud-based acquisitions, announcing it has purchased LogFire, a warehouse management applications provider based out of Georgia.
In a blog post on its website, Oracle announced it was purchasing the nine-year-old company, lauding its platform by saying, “LogFire’s built-for-the-cloud solution provides an integrated warehouse, inventory and workforce management solution platform that easily scales with increased volume and complexity.”
LogFire also announced the news on its website, expressing excitement about the company’s move.
“We are very humbled and excited about this great event,” LogFire wrote. “Oracle will leverage our expertise in the cloud-based warehouse management space while we integrate into Oracle Supply Chain Management (SCM) Cloud’s broad suite of innovative applications that enables supply chain organizations to modernize their supply chain process.”
The acquisition comes about six weeks after Oracle announced it was buying NetSuite, another cloud-based company, for about $9.3 billion. As of Sept. 7, one of NetSuite’s largest shareholders, T. Rowe Price, was reportedly opposing the acquisition.
A recent report by Markets and Markets forecasted the cloud storage sector would more than triple in value over the next half decade, likely recording a CAGR of 25.8%, seeing a total worth of $74.94B by 2021. The industry’s 2015 value was estimated at $23.76 billion.
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