NEW YORK (Reuters) - Oracle Corp. on Monday said it agreed to buy MetaSolv Software Inc, whose products cater to the communications and media industries, in a cash deal worth about $219.2 million.

Oracle said the price amounted to about $4.10 per share, a 23 percent premium over MetaSolv's closing price of $3.32 on Nasdaq. Shares surged to $4.00 in early electronic trading on Monday.

The deal is expected to close on late 2006 or early 2007. MetaSolv employees will join Oracle's communications global business unit.

MetaSolv software supports both traditional and new media services such as Internet phone and television, as well as regular voice and data services.

Oracle has pursued a series of acquisitions to boost sales. In June the company wrapped up a tender offer for Portal Software Inc., which provides billing and revenue management software for communications and media companies