The American technology corporation Oracle has announced another acquisition of a startup that has amassed a huge company database called DataFox.
Following this acquisition, the company aims to enhance both the kind of data that it can provide to its business customers and its artificial intelligence capabilities. The acquired company currently covers 2.8 million public and private businesses, adding 1.2 million each year.
DataFox makes use of AI to analyse that to make larger business predictions. The combination of Oracle and DataFox will enhance Oracle Cloud Applications with an extensive set of AI-derived company-level data and signals and would also enable customers to reach even better decisions and business outcomes.
“Together, Oracle and DataFox will enrich cloud applications with AI-driven company-level data, powering recommendations to elevate business performance across the enterprise,” said Steve Miranda, EVP of applications development at Oracle.
The financial details of the deal have not been disclosed. Founded in 2014, DataFox had raised just under $19 million and was last valued at $33 million back in January 2017.
Oracle remains in hot competition with Salesforce for customers and is hoping to woo and keep more of them with the better, integrated innovations. The deal shows that larger platform providers are on the hunt for more AI-driven tools to provide an increasingly sophisticated level of service to customers.