Oracle Corporation has completed the acquisition of Siebel Systems Inc. to become a leader in Customer Relationship Management.
"Oracle is now the undisputed leader in Customer Relationship Management software," said Oracle CEO Larry Ellison. "Oracle’s focus on modern, standards-based applications and middleware is moving us into a leadership position in applications and on-demand services. Siebel accelerates that move."
Oracle President Charles Phillips said, "Siebel’s expertise with industry-specific customer-facing applications combined with rich analytics will not only serve as the centrepiece of our CRM strategy for Oracle Fusion Applications, but can also be used to extend our current customers investments today."
Former Siebel stockholders electing to receive Oracle common stock will receive a combination of stock and cash because the stock portion of the consideration was oversubscribed. The pro-rata allocation of cash and stock payable to the electing holders will be announced following receipt of the final election results, which are expected to be available on or about February 2, 2006.
"Oracle is now the undisputed leader in Customer Relationship Management software," said Oracle CEO Larry Ellison. "Oracle’s focus on modern, standards-based applications and middleware is moving us into a leadership position in applications and on-demand services. Siebel accelerates that move."
Oracle President Charles Phillips said, "Siebel’s expertise with industry-specific customer-facing applications combined with rich analytics will not only serve as the centrepiece of our CRM strategy for Oracle Fusion Applications, but can also be used to extend our current customers investments today."
Former Siebel stockholders electing to receive Oracle common stock will receive a combination of stock and cash because the stock portion of the consideration was oversubscribed. The pro-rata allocation of cash and stock payable to the electing holders will be announced following receipt of the final election results, which are expected to be available on or about February 2, 2006.