A Silicon Valley company has acquired an Oklahoma City software development firm in what is being called a milestone deal.
California-based NetSuite Inc., a leading provider of cloud-based financials and enterprise resource planning suites, bought Element Fusion to tap into Oklahoma City's technology skills, the firms announced. Terms of the deal were not disclosed.
Andrew Lloyd, NetSuite's general manager of commerce products, said the Silicon Valley firm has been investing heavily in e-commerce solutions. The addition of Element Fusion strengthens that team.
He said the Oklahoma company was acquired after NetSuite evaluated more than 50 companies.
Element Fusion impressed its new owners with its team's expertise and emphasis on quality in its designs.
“Our goal is to take elements of their DNA and infuse them more broadly throughout NetSuite,” Lloyd said. “We really are looking for this team to take a leadership role.
“That's a big piece of the talent that they brought to the table, beyond the engineering side of things.”
Companies share vision
NetSuite has more than 1,700 employees and serves more than 16,000 companies and subsidiaries around the world.