Oracle finally acquires PeopleSoft

Jan. 5, 2005
After 18 months of contentious negotiations that frequently emphasized the "hostile" in hostile takeovers, Oracle Corp. has won over PeopleSoft Inc.'s

After 18 months of contentious negotiations that frequently emphasized the "hostile" in hostile takeovers, Oracle Corp. has won over PeopleSoft Inc.'s board of directors, who have agreed to be acquired at a price of $26.50 per share. The total value of the transaction between the two enterprise software titans is approximately $10.3 billion. Oracle is now running a strong second to SAP as a vendor of business application software.

Oracle intends to enhance existing PeopleSoft and JD Edwards applications while developing new versions as well.

Oracle and PeopleSoft will each stay all pending litigation and will dismiss such litigation permanently following the consummation of the offer.

"PeopleSoft customers will undoubtedly have mixed reactions to the merger news," says Jim Shepherd with analyst firm AMR Research Inc. "While most of them would probably have preferred a different result, they have all been struggling to develop IT strategies amid the uncertainty. We expect Oracle to immediately reach out to the PeopleSoft customer base to reassure them and begin to establish positive relationships."

Latest from Technology & Automation

#177137895@Mustsansar Syed| Dreamstime
AI's Role in Developing Resilient Supply Chains
AI's Role in Developing Resilient Supply Chains
AI's Role in Developing Resilient Supply Chains
AI's Role in Developing Resilient Supply Chains
AI's Role in Developing Resilient Supply Chains
#146171327 © Kittipong Jirasukhanont| Dreamtime
Warehouse Market to Increase 24% By 2030
Warehouse Market to Increase 24% By 2030
Warehouse Market to Increase 24% By 2030
Warehouse Market to Increase 24% By 2030
Warehouse Market to Increase 24% By 2030