Feeds

Oracle CFO exits as fight for Retek heats up

A busy time at Oracle HQ

  • alert
  • submit to reddit

High performance access to file storage

Oracle's CFO, Harry You, is leaving the company a mere two months after the database giant acquired Peoplesoft and just as its battle to acquire Retek is heating up. You, who had only worked for Oracle for eight months, is joining BearingPoint as CEO, replacing interim boss Rod McGeary. Oracle's co-president Safra Catz will pick up the financial reins until a replacement is found.

Larry Ellison issued a statement saying: "We are proud of the numerous Oracle alumni that have gone on to become CEOs of enterprise software and IT service firms. We wish Harry good fortune in his new job and look forward to partnering with him and BearingPoint for years to come."

You's departure come at a critical time for Oracle, however. The company is only two months into integrating Peoplesoft and is embarking on what looks like being a big fight with SAP to acquire retail software vendor Retek.

SAP struck a deal earlier this month to acquire Retek for $8.50 a share. Oracle countered that with a $9 bid. On Thursday SAP upped its offer to $11 per share, and Retek advised its shareholders to accept the deal. Oracle responded by increasing its bid for to $11.25, valuing the company at around $630m.

Meanwhile, Retek's share price has continued to climb, hitting a high of $11.88 before closing Thursday at $11.65. Reports suggest the bidding will go on, with Ellison giving every indication that he will continue to press his case. He said, in a statement: "Our North American applications business is larger than SAP's. We intend to defend our No. 1 position." ®

Related stories

Oracle's bid for Retek leaves SAP speechless
Oracle puts $525m between SAP and Retek
Ellison confounds sceptics over PeopleSoft
Oracle boss forecasts PeopleSoft customers' future

High performance access to file storage

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Oh no, Joe: WinPhone users already griping over 8.1 mega-update
Hang on. Which bit of Developer Preview don't you understand?
Microsoft lobs pre-release Windows Phone 8.1 at devs who dare
App makers can load it before anyone else, but if they do they're stuck with it
Half of Twitter's 'active users' are SILENT STALKERS
Nearly 50% have NEVER tweeted a word
Internet-of-stuff startup dumps NoSQL for ... SQL?
NoSQL taste great at first but lacks proper nutrients, says startup cloud whiz
IRS boss on XP migration: 'Classic fix the airplane while you're flying it attempt'
Plus: Condoleezza Rice at Dropbox 'maybe she can find ... weapons of mass destruction'
Ditch the sync, paddle in the Streem: Upstart offers syncless sharing
Upload, delete and carry on sharing afterwards?
New Facebook phone app allows you to stalk your mates
Nearby Friends feature goes live in a few weeks
Microsoft TIER SMEAR changes app prices whether devs ask or not
Some go up, some go down, Redmond goes silent
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.