Oracle won a $2 billion bid to acquire Zendec, its online data management company, in a deal that could give it control of one of the world’s largest data firms, The Wall Street Journal reported late on Tuesday.
Oracle chief executive officer Larry Ellison, who previously served as CEO of Oracle, had been negotiating for the company to buy the company from its longtime owner, Google.
Oracle shares had fallen more than 20 percent since the announcement last month.
Oracle is valued at more than $70 billion.
The acquisition would give Oracle more control over Zendecs business, potentially enabling it to offer more flexible and less costly offerings, including data management and analytics, the Journal said.
The deal could be completed by the end of next year.
Zendec was founded in 2000 and now has more than 100 employees.
The company has been working on an overhaul of its software since 2012, when it became the first company to offer cloud computing to businesses.
Zendesks customers include banks, insurance companies, government agencies, and other institutions.
It provides financial, healthcare, and retail data management services, as well as analytics and consulting.
The company’s website has an image of Ellison in a hoodie and shorts, as a reference to the Oracle CEO’s style.
Ellison has previously expressed his support for open-source software.
This deal will give Oracle even more control of the Zend ecommerce marketplace, where its customers will be able to make purchase decisions on Amazon, Microsoft, eBay, Google, and others, according to the Journal.