Oracle to buy retail software company ATG

Oracle Corp said on Tuesday it will buy Art Technology Group Inc for $1 billion, to bolster its e-commerce software applications.

Oracle's $6-per-share bid represents a 46 percent premium over ATG's close of $4.10 on Nasdaq. ATG shares were trading at $5.99 in early Nasdaq trading.

The acquisition, which is expected to close early next year, is the latest in a wave of dealmaking by a major technology company to diversify product portfolios -- from computing, security, storage and networking to online videoconferencing and e-commerce.

Read Full Article from Reuters

- Posted: 2010-11-02 10:48:06

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