Oracle has acquired Internet traffic and performance monitoring company Dyn. The deal is expected to help Oracle to augment its business cloud services. The financial terms of the deal were not disclosed. Dyn is believed to have nearly 3,500 clients including Pfizer, Twitter, and Netflix.

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Dyn is a leading provider of DNS services. The company also offers monitoring and optimization services to allow faster page download. Oracle said that the acquisition will allow the company to provide one-stop solutions for customers looking for a platform as a service (PaaS) and infrastructure as a service (IaaS).

According to Fortune, the deal may be priced between $600 million to $700 million. It is believed that Dyn was also being pursued by other suitors including IBM.

Oracle faces tough competition from Amazon and Google in the cloud service segment. Both these companies offer DNS services to their clients. With the acquisition of Dyn, Oracle will be in the better position to tackle Amazon and Google as it may now collect valuable data about actual working of the internet.

Oracle said that its customers now will have access to various of Dyn services such as performance and traffic tools. These features will help the customers to boost their website revenue and optimize their costs.

Thomas Kurian, president of product development at Oracle said. "Dyn's immensely scalable and global DNS is a critical core component and a natural extension to our cloud computing platform."

However, Dyn offers many other services apart from plain DNS features. The company provides services related to online downtime. In 2014, Dyn acquired Renesy, a network intelligence company, which lets it analyze the details of internet outages.

Dyn was recently in the news as it became victim to one of the biggest Denial of Service (DDoS) ever. The attack, carried out using IoT Mirai botnet, resulted in the disruption of services of a very large number of domains.