Oracle Corp. (NYSE: ORCL) said it will buy utilities software company Opower Inc. (NYSE: OPWR) for $532 million. The announcement comes on the heels of Oracle’s pending purchase of cloud company Textura.
Opower’s software stores meter data, runs energy efficiency reports and provides other energy data use for providers. Its technology is designed to help energy customers save money, reduce energy demands from providers, and decrease call center volume. Opower, based in Arlington, Virginia, works with energy and utility providers such as Consolidated Edison Inc. (NYSE: ED), National Grid plc (NYSE: NGG) and Pepco Holdings Inc. (NYSE: POM).