Oracle to Acquire Verenia’s NetSuite Business To Expand Into CPQ 

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Oracle announced that it is acquiring the NetSuite business of Verenia, the CPQ and CRM vendor.

“On January 4, 2022, Oracle announced that it has entered into an agreement to acquire Verenia’s NetSuite CPQ business. This acquisition will bring NetSuite customers native configure, price and quote (CPQ) functionality to enable fast and accurate guided selling. Verenia’s non-NetSuite CPQ and CRM product lines and customers are retained by Verenia LLC,” said the statement.

NetSuite is buying the full suite of Verenia intellectual property on the NetSuite platform. For NetSuite, it gains a sophisticated 3D product visualisation CPQ solution.

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Jason Maynard, SVP Global Field Operations at Oracle NetSuite, said: “We’re kicking off 2022 with the exciting news that we are broadening the suite. Today we announced the acquisition of Verenia to expand our category into CPQ (configure, price, and quote). This acquisition will bring NetSuite customers native CPQ functionality to enable fast and accurate guided selling.”

Victorio Pellicano, founder and CEO of Verenia, said: “I am humbled to announce that after nearly 10 years of leading the #CPQ category and making manufacturers, NetSuite customers, and – most importantly –  Verenians, happy, Verenia has entered into an agreement with one of the greatest tech companies the world has ever known – Oracle – to sell its NetSuite CPQ business.”