Filed under: Deals

Perhaps on-demand customer relationship management software company NetSuite Inc. (NYSE: N) is taking a page from its majority owner’s strategic playbook.

The company, which is 54%-owned by Oracle Corp. (NASDAQ: ORCL) CEO Larry Ellison, on Monday took a tentative step in that direction, announcing that it would pay $26 million in cash to acquire OpenAir Inc., a provider of automated professional services software. The buy price is net of the 56-person startup’s cash, NetSuite said.

OpenAir’s on-demand software suite offers applications ranging from expense reports to work flow and resource management tools. Founded in 1999, the company has raised over $16 million from investors including Fidelity Capital, 3i Group plc, i-Hatch Ventures LLC and Rex Capital.

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This entry was posted on Thursday, June 12th, 2008 at 11:28 am and is filed under Engagements and Deals News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.