Oracle has made yet another acquisition. The enterprise software giant has acquired DataFox, a startup specializing in artificial intelligence (AI) driven business intelligence. The startup applies predictive analysis using AI to make business predictions for millions of companies to facilitate CRM services. Oracle has made this acquisition to improve its portfolio of cloud services and gain an upper hand over its arch-rival Salesforce.
In addition to this, Steve Miranda, the executive vice president of application development at Oracle stated that this deal will place DataFox in its existing portfolio of enterprise software services such as ERP, CX, HCM (Human Capital Management) and SCM (Supply Chain Management). DataFox is sure to enhance Oracle’s cloud applications with its artificial intelligence powered operational recommendations and drive business growth. Oracle and other tech giants are in a race to boost their cloud services. Salesforce is currently one of the leading corporations when it comes to providing cloud-based enterprise software services and is a bitter rival to Oracle, given the history shared by the founders of both companies.
DataFox was founded in 2014 and was valued at about $33 million in 2017. Venture capitalists that funded DataFox include Goldman Sachs, Slack and Howard Linzon, among others. The cloud computing industry is rapidly expanding and covers almost all aspects of software services. The video gaming industry may also need to embrace the cloud, with Microsoft announcing its plan to stream games to consoles.