Sign shown at headquarters for Oracle Corp shown in Redwood City
A sign is shown at the headquarters of Oracle Corporation in Redwood City, California February 2, 2010. REUTERS

Oracle Corp struck a deal to buy RightNow Technologies Inc for around $1.5 billion, agreeing to pay a nearly 20 percent premium for the cloud-based customer service company.

Oracle said on Monday it would pay $43 for each share of RightNow. The company's shares closed at $35.96 on Friday.

Oracle said it expects the deal to close in late 2011 or early next year.

(Reporting by Michael Erman in New York, editing by Gerald E. McCormick)

Oracle New York Software Oracle