Oracle managing to accelerate NetSuite’s revenue growth
NetSuite is Oracle’s (ORCL) enterprise resource planning software product. Oracle acquired NetSuite in July 2016 for $9.6 billion. During last quarter’s earnings call, the company claimed that because of its investments in NetSuite, it has been able to accelerate NetSuite’s revenue growth to 25% compared to growth of 15% that NetSuite achieved when it was a standalone company.
On December 20, NetSuite announced that Denaster General Trading of UAE has partnered with it for the implementation of the cloud solution. Denaster is the retail distributor that helps brands such as Nokia (NOK) reach customers across the Middle East.
The press release mentioned, “With NetSuite, Denaster will be able to take advantage of the cloud to gain a single view into key business metrics across its entire operations and quickly and easily set up local operations in new markets.”
Besides Denaster, NetSuite has had a number of client wins in the last few months. In August this year, it partnered with a few biopharmaceutical companies such as Selecta Biosciences and BioMonde. Such client wins will likely help Oracle continue with its NetSuite growth.