Tech deal: Software company Oracle announced today it’s buying RightNow Technologies for about $1.5 billion, saying it’s doing so to offer a broader range of software and services that help businesses manage customer service. Oracle is offering $43 per share for the tech service company from Bozeman, Mont. That’s a 19.6% premium over RightNow’s closing price of $35.96 on Friday. RightNow’s board has agreed to the deal, which is subject to shareholder approval. Oracle says it expects to complete the deal by early 2012.
Life preserver: The Federal Housing Finance Agency announced new rules this morning that will allow many more “underwater” homeowners—those who owe more than their properties are worth—to refinance at today’s ultra-low interest rates, the Washington Post reports. FHFA estimates up to a million borrowers will use the program, which was originally rolled out in early 2009 and helped far fewer people than was expected. Only mortgages backed by Fannie Mae and Freddie Mac will be eligible. In the past, borrowers who owed only more than 25% more than their homes are worth could participate in the program. Now, there is no cap on how much a borrower owes. Officials hope by reducing monthly payments, more homeowners will avoid foreclosure and have more cash freed up to spend on goods and services.
Cash sieve: WikiLeaks founder Julian Assange says financial problems may lead to the closure of the notorious secret-spilling site at the end of this year. “If WikiLeaks does not find a way to remove this blockade, we will simply not be able to continue by the turn of the new year,” Assange says. WikiLeaks says in a statement it would stop publishing for the moment in order to focus on making money—explaining that the blockade imposed by financial companies including Visa, MasterCard, Western Union and PayPal left it with no choice. The statement says that to ensure its own survival, WikiLeaks must “aggressively fundraise in order to fight back against this blockade and its proponents.”
