Oracle sees future with Siebel Systems

Manufacturing News, Source : TheManufacturer.com
Published : 12 Sep 2005 19:43

Software maker Oracle announced today that it agreed to buy its rival Siebel Systems for approximately $5.85 billion in cash and stock.

“In a single step, Oracle becomes the number one CRM applications company in the world,” said Oracle 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.”

“Today is a great day for Siebel Systems' customers, partners, shareholders, and employees,” said Thomas M. Siebel, chairman of Siebel Systems. “The combination of Siebel applications with the development capacity of Oracle to enhance our CRM product set assures our customers continuing success.”

The takeover fuels Oracle’s ongoing rivalry with Germany’s SAP, the world's largest maker of business applications software. The deal is expected to close in early 2006.

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