Oracle Corporation (NYSE:ORCL) announced that it entered an agreement to acquire LiveLOOK, a provider of real-time, visual collaboration technology for co-browsing and screen sharing as part of its initiative to strengthen its cloud service and to improve customer experience.

Oracle Micros Systems

The companies did not disclose the terms of the transaction, which is subject to customary closing conditions and regulatory approvals. According to Oracle Corporation (NYSE:ORCL), LiveLOOK will continue to operate its business independently following the completion of the acquisition.

Oracle Corporation (NYSE:ORCL) announced the acquisition after releasing disappointing financial results for its fourth quarter fiscal 2014. The company reported earnings of $0.92 per share on $11.33 billion in revenue compared with the $0.95 earnings per share on $11.55 billion in revenue expected by Wall Street analysts.

Cloud-based co-browse technology

According to Oracle Corporation (NYSE:ORCL), it has more than 100 global customers using the co-browse technology of LiveLOOK as an embedded part of its Service Cloud offering.

LiveLOOK’s cloud-based co-browse technology allows customer service and sales agents to collaborate and visually guide consumers through the web and mobile environments to address problems effectively and improve the quality of buying decisions.

Benefits to Oracle from the deal

The combination of Oracle Corporation (NYSE:ORCL) and LiveLOOK) will help modern customer service organizations engage with consumers directly, enhance customer satisfaction, agent efficiency and revenue growth across web and mobile channels.

The customers of LiveLOOK will also benefit as they will have a more seamless path to the Oracle Service Cloud, which is an integral part of the Oracle Experience Cloud composed of commerce, sales, social & marketing as well as service clouds. LiveLOOK customers will not experience disruptions to their current solution as it enables seamless and integrated exceptional customer experience from the first touch point through the entire customer life cycle.

Customers of the Oracle Cloud Service who are currently using the  LiveLOOK solution will also benefit and be able to take advantage of some of the new LiveLOOK co-browse capabilities as part of the standard upgrade.

In a statement, LiveLOOK CEO Igor Khalatian said the company’s innovative multi-channel co-browse and visual collaboration technology puts agents on the same page with consumers to improve customer experience and enhance sales. He added, “We have enjoyed a successful partnership integrated with the Oracle Service Cloud, and we are now thrilled to join Oracle’s leading Customer Experience portfolio.”

On the other hand, David Vap, group vice president of product development at Oracle Corporation (NYSE:ORCL) said, “Consumers are increasingly conducting transactions across multiple digital channels such as web and mobile. Meeting consumer demands and exceeding their expectations for web and mobile service and support will improve customer satisfaction and enhance revenue.”