Opower

Opower — the American developer of the power software. The company offers cloud (SaaS) services.

Opower is founded in 2007, in the 2014th it became public, in the 2016th Oracle was sold.

2016: The company is sold to Oracle

On May 2, 2016 the American Oracle corporation announced Opower purchase approximately for $532 million. Shareholders of the absorbed company will receive $10.3 counting on each stock owned by them that honor one third more than the cost of securities of Opower at the time of closing of the exchange on April 29, 2016. After the declaration of sale of Opower of a stock of the company jumped by 30% and reached $10.29 apiece by the time of the termination of exchange biddings on May 3, 2016.

Opower went public in 2014

Oracle intends to close the transaction on merger of Opower until the end of 2016. As soon as this acquisition is officially issued, Opower will join the division  of Oracle Utilities which is engaged in development and promotion of software for automation of basic processes and control of observance of requirements for the gas, electric and water supplying companies. It is supposed that the united company will become the largest supplier of cloud services in the market of utilities which volume Oracle estimates at $2.3 trillion.

Merge will provide the industry with the most modern and complete cloud applicaions for all supply chain of utilities — from counters to power supply networks and end users — the CEO and one of founders of Opower Dan Yates said.[1]

As of the beginning of May, 2016 more than 100 leading world companies (PG&E, Exelon, Pepco, National Grid, etc.) working in the field of utilities use Opower services. More than 60 million households and the enterprises in the different countries of the world are connected to Opower services which help to save the electric power.

At this time the company has offices in London, Singapore, Tokyo and Odessa.

2015: Revenue of $148.7 million

In 2015 revenue of Opower made $148.7 million, operating losses — $44.9 million. The previous year this financial performance was measured 128.4 and 41.8 million dollars respectively.

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