Oracle has announced that it has entered into an agreement to acquire RightNow Technologies, Inc. a provider of cloud-based customer service.

Under the terms of the deal, which is expected to close by early 2012, the enterprise software giant will pay RightNow’s shareholders $43 a share.

RightNow’s primary product is its CX Suite, a platform that allows companies to engage with their customers through the Web, social media and contact centers.

“Oracle is moving aggressively to offer customers a full range of Cloud Solutions including sales force automation, human resources, talent management, social networking, databases and Java as part of the Oracle Public Cloud,” said Thomas Kurian, Executive Vice President, Oracle Development. “RightNow’s leading customer service cloud is a very important addition to Oracle’s Public Cloud.”