Oracle buys Siebel



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Oracle buys Siebel

The world of software and other computer related products, is going through a major process of consolidation.

Oracle Corporation announced on September 12th that it agreed to buy Siebel Systems, Inc for $10.66 per share. The offer is valued at approximately $5.85 billion, or $3.61 billion net of Siebel's cash on hand of $2.24 billion.

"In a single step, Oracle becomes the number one CRM applications company in the world," said CEO Larry Ellison. "Siebel's 4,000 applications customers and 3,400,000 CRM users strengthen our number one position in applications in North America and move us closer to the number one position in applications globally."

Oracle Corporation also bought PeopleSoft on June 1st of this year.

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