Tom Sweeney

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Archive for November 2nd, 2010

Oracle to buy ATG for $1B

Posted by sweens on November 2, 2010

The business software provider Oracle says it has agreed to acquire e-commerce software maker Art Technology Group Inc. for US$1 billion in cash.

The purchase price works out to $6 per share. That is a 46 per cent premium over Cambridge, Mass.-based Art Technology’s closing price on Monday.

The deal needs shareholder and regulatory approval. Oracle said Tuesday it expects to complete the acquisition by early next year.

Oracle Corp., based in Redwood Shores, Calif., makes a wide range of business software.

http://www.obj.ca/Technology/2010-11-02/article-1918494/Oracle-to-buy-ATG-for-%241B/1

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Bridgewater’s Q3 net income doubles

Posted by sweens on November 2, 2010

Bridgewater Systems says its third-quarter net income doubled to $3.4 million and raised its 2010 profit target range as revenue increased by 52 per cent over the same time last year.

The Ottawa-based technology company’s profit amounted to 13 cents per share with $23.9 million in revenue.

That’s up from $1.7 million or seven cents per share of net income with $15.8 million of revenue in the third quarter of 2009.

Bridgewater, which provides mobile personalization technology to telecom carriers, also provided updated guidance for 2010.

It now expects between $12 million and $13.5 million in net income. The previous range had been lower at between $10 million and $12 million.

Bridgewater also raised the lower end of its revenue range by $9 million to $92 million, but left the higher end of the range intact $94 million.

http://www.obj.ca/Technology/2010-11-02/article-1918490/Bridgewaters-Q3-net-income-doubles/1

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