Oracle to buy utility software maker Opower

The Oracle logo is seen on its campus in Redwood City, California June 15, 2015. REUTERS/Robert Galbraith/Files

REUTERS - Oracle Corp will buy Opower Inc, a maker of software for utilities, for about $548 million in cash. The offer of $10.30 per share is at a premium of 30.4 percent to Opower's close on Friday. Oracle said on Monday the deal was worth about $532 million net of cash. The equity value is based on Opower's 53.2 million shares outstanding as of Feb. 29. (Reporting by Rishika Sadam in Bengaluru)