Monday, September 12, 2005

WSJ.com - Oracle Agrees to Acquire Siebel

WSJ.com - Oracle Agrees to Acquire Siebel: "The U.S. business-software giant Oracle Corp. said Monday that it has agreed to buy Siebel Systems for $5.85 billion in cash, in a deal that would mark the latest major acquisition of Larry Ellison's consolidation spree in the business-software sector.
Oracle said it is paying $10.66 per share, a 17% premium over Siebel's closing share price Friday of $9.13, which was already higher thanks to rumors of a possible deal. And it characterized the total purchase price as $3.61 billion when discounting Siebel's cash on hand of $2.24 billion.
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"In a single step, Oracle becomes the number one CRM applications company in the world," Oracle Chief Executive Ellison said in the statement announcing the deal. "Siebel's 4,000 applications customers and 3.4 million CRM users strengthen our number one position in applications in North America and move us closer to the number one position in applications globally.""

Wow -- busy week so far...
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