(Reuters) - Oracle Corp (>> Oracle Corporation) will buy Opower Inc (>> Opower Inc), a maker of software for utilities, for about $548 million in cash.

The offer of $10.30 per share is at a premium of 30.4 percent to Opower's close on Friday.

Oracle said on Monday the deal was worth about $532 million net of cash.

The equity value is based on Opower's 53.2 million shares outstanding as of Feb. 29.

(Reporting by Rishika Sadam in Bengaluru)

Stocks treated in this article : Oracle Corporation, Opower Inc