Source: Oracle pays more than $400 million for BlueKai

February 24, 2014, 10:40 PM UTC

FORTUNE — Oracle (ORCL) today announced an agreement to acquire BlueKai, a Seattle-based cloud platform for intent-focused data exchange. Or, put another way, it aggregates consumer data to better target online advertising and marketing efforts.

No deal terms were disclosed, but a source close to the situation tells Fortune that the price-tag is “a little above” $400 million. Most of that is in cash, but also included is some Oracle stock tied to employee retention.

BlueKai had raised around $40 million in VC funding since 2008, from investors like Battery Ventures, GGV Capital and Redpoint Ventures.

The acquisition remains subject to regulatory approval, with Oracle and BlueKai expected to operate independently until the transaction closes.

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