Wednesday, January 16, 2008

Oracle to acquire BEA

Hey, great news !

Oracle announced today that they are going to acquire BEA Systems. From Oracle Press Release:

Oracle Corporation (NASDAQ: ORCL) and BEA Systems (NASDAQ: BEAS) announced today they have entered into a definitive agreement under which Oracle will acquire all outstanding shares of BEA for $19.375 per share in cash. The offer is valued at approximately $8.5 billion, or $7.2 billion net of BEA's cash on hand of $1.3 billion.

Oracle CEO Larry Ellison said:

"The addition of BEA products and technology will significantly enhance and extend Oracle's Fusion middleware software suite".

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