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Oracle Acquires Siebel Systems for 5.85 Billion Dollars

Posted on: Tuesday, 13 September 2005, 09:00 CDT

Oracle acquires Siebel Systems for 5.85 billion dollars NEW YORK, Sept. 12 (Xinhua) -- US business software giant Oracle Corp., the world's second-largest software maker, announced Monday to buy Siebel Systems for 5.85 billion dollars.

Siebel investors will receive 10.66 dollars a share in cash or stock, That's 17 percent more than Siebel's closing price last Friday.

"In a single step, Oracle becomes the number one CRM applications company in the world," said Oracle chief executive 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."

After the deal, Oracle, the world's second largest software group after Microsoft but behind SAP in business, get a strong base in the field of customer-relationship management (CRM) software, which covers accounting, inventory management and customer management. management applications. Siebel lost the top spot in the CRM market to Germany's SAP in 2004.

Globally, CRM software sales are estimated at around eight billion dollars annually and are expected to grow to 10 million dollars by 2009, Oracle said citing researcher International Data Corp.

Source: Xinhua News Agency - CEIS

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