Oracle to acquire ATG
Oracle (NASDAQ:ORCL) has agreed to acquire Art Technology Group (NASDAQ: ARTG), an eCommerce software and related on demand commerce optimization applications provider, through a cash merger for $6.00 per share, or approximately $1.0 billion.
The transaction which, is expected to close by early 2011, is subject to stockholder and regulatory approval and other customary closing conditions.
“Driven by the convergence of online and traditional commerce and the need to increase revenue and improve customer loyalty, organizations across many industries are looking for a unified commerce and CRM platform to provide a seamless experience across all commerce channels,” commented Thomas Kurian, EVP, Oracle Development.
The companies expect that, bringing together their complementary technologies and products will enable the delivery of next-generation, unified cross-channel commerce and CRM.
Bob Burke, president and CEO, ATG remarked that, “This combination will enhance the ability to bring all their commerce activities together – creating a more consistent and relevant experience for their customers across all interaction channels, including online, in stores, via mobile devices and with call centers.”
Together, the two companies, after the acquisition expect to help businesses grow revenue, strengthen customer loyalty, improve brand value, achieve better operating results, and increase business agility across online and traditional commerce environments.
“This acquisition builds upon our dedication to offer the most complete and integrated suite of best-of-breed software applications and technologies required to power the most demanding companies in the world in every industry,” stated Bob Weiler, EVP, Oracle Global Business Units.
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