Tom Sweeney

It's a coming of age tale….

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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