Oracle Corporation (NYSE:ORCL) is planning to purchase DNS provider Dyn.
Oracle Corporation didn’t say how much it would be spending to acquire Dyn or when the deal will be complete. However, it did note that Dyn has over 3,500 customers. It also handles 40 billion traffic optimization decisions each day for these customers.
“Oracle already offers enterprise-class IaaS and PaaS for companies building and running Internet applications and cloud services,” Thomas Kurian, President of Product Development at Oracle, said in a statement. “Dyn’s immensely scalable and global DNS is a critical core component and a natural extension to our cloud computing platform.”
Dyn customers include Netflix, Inc. (NASDAQ:NFLX), Twitter Inc (NYSE:TWTR), Pfizer Inc. (NYSE:PFE), Comcast Corporation’s (NASDAQ:CMCSA) CNBC and more. ORCl expects the transaction to result in reduced load times and faster access to its cloud services.
Oracle Corporation said that the deal is subjects to customary closing conditions before it can be completed. It also noted that both companies will continue to operate separate of each other until the deal is complete.
Oracle Corporation’s decision to acquire Dyn comes shortly after the DNS provider was the target of a major DDoS attack last month. This attack took place late in the month and caused outages for several websites. This included Netflix, Twitter, Reddit, Spotify and others. This mostly caused users living along the East Coast of the United States to lose access to these websites and services for the duration of the attack.
ORCL stock was largely unaffected by the Dyn acquisition news as of Monday afternoon.
