Company Logo Shown at Headquarters for Oracle Corp in Redwood City
The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California, on February 2, 2010. REUTERS

Oracle (NASDAQ:ORCL), the No. 1 database developer, said it plans to acquire Eloqua (NASDAQ:ELOQ), a developer of marketing products for the cloud, which only went public in August.

Oracle offered to pay $810 million, or $23.50 a share, for the Vienna, Va.-based company. As a result, Eloqua shares soared 32 percent to $23.66, up $5.74 in Thursday trading.

Eloqua's marketing software that measures the effectiveness of online ads “will become the centerpiece of the Oracle marketing cloud,” said Thomas Kurian, Executive VP for product development for the Redwood Shores, Calif., company.

Oracle, which reported cash and investments exceeding $33.6 billion in its second quarter ended Nov. 30, will be acquiring a company more for its technology than its financial performance.

In the third quarter, Eloqua reported its net loss widened to $2.1 million, or $2.46 a share, from $1.25 million, or $3.53 on fewer shares, a year ago. Revenue rose 30 percent to $23.8 million.

CEO Joe Payne said he expected to work together with Oracle to "accelerate the pace of the modern marketing revolution."

The company was founded by Canadian enterpreneur Mark Organ, now CEO of Influitive, a Toronto-based startup that raised $7.3 million in new venture capital this month. Influitive devises online marketing tools called AdvocateHub for advertisers and others involved in online marketing.

Eloqua, founded in 1999, had raised venture capital from Bay Partners, JMI Equity and Bessemer Venture Partners, none of which has yet invested in Influitive, which raised cash from New Enterprise Associates, Hummer Winblad, Relay Ventures and others.

Shares of Oracle fell 15 cents to $33.94 in Thursday trading.