I’m guessing there may be some strategic intellectual property involved with this deal, given ATG’s pioneering role in the early Java Web app server market phase. Congrats to the ATG team, in any case; I hope your Oracle assimilation goes smoothly.
Cambridge-based Art Technology Group Inc. (Nasdaq: ARTG) announced this morning it has agreed to be acquired by Oracle Corp. (Nasdaq: ORCL) for about $1 billion. The pending deal amounts to $6 a share - a 46 percent premium over yesterday’s close. The two companies expect to finalize the merger in early 2011.
A snapshot of ATG’s stock history: