Oracle Corp will snap up e-commerce software solutions provider Art Technology Group in an all cash deal worth USD 1 billion. The latest acquisition, expected to be completed by early next year, would bolster Oracle's capability to offer industry-specific enterprise solutions. Oracle today said it has agreed to buyout Art Technology Group (ATG) for USD 6 per share in a deal valued at nearly USD 1 billion. ATG's solutions enable enterprises to offer sophisticated merchandising, marketing, content personalisation, automated recommendations, and live-help services. "The addition of ATG... furthers Oracle's strategy of delivering industry-specific enterprise applications," Oracle's Executive Vice President (Oracle Global Business Units) Bob Weiler said.
Subject to shareholders' and regulatory approvals, the transaction is expected to close by early 2011. ATG's President and CEO Bob Burke said that over 1,000 global enterprises rely on the company's solutions.
Subject to shareholders' and regulatory approvals, the transaction is expected to close by early 2011. ATG's President and CEO Bob Burke said that over 1,000 global enterprises rely on the company's solutions.
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