Feeds

Oracle wins Retek bidding war

Biggest apps vendor just got bigger...

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

Larry Ellison's Oracle has fought off bitter competition from SAP to buy retail software specialist Retek for $630m.

Earlier this month SAP offered $8.50 a share for Retek but Oracle made a counter offer of $9 a share. SAP increased its offer to $11 a share - an offer Retek's board recomended shareholders accept. Oracle then offered $11.25 and, shortly after midnight Tuesday, said SAP had dropped out of the auction.

Larry Ellison, Oracle's CEO, said: "Oracle has the largest applications business in North America, and we intend to expand that leadership position."

Marty Lesstma, president and chief exec of Retek, said: "We believe that Oracle's offer is a good deal for Retek stockholders, and all directors in attendance at our board meeting have recommended that it be accepted."

Gartner analysts say the deal is good news for Oracle's retail customers because it will give them access to a single vendor for all their retail apps. The analysts say Retek customers are also better off in the short-term because if SAP had won the bidding war it would likely migrate people to its own products more quickly - Oracle will give customers until 2008.

But Gartner adds that in the longer-term Retek customers would have been better off if SAP had won because Oracle has had limited success with vertical applications. Gartner also warned Oracle customers to expect delays to the Fusion project to bring Oracle's apps together with those of PeopleSoft, JD Edwards and, now, Retek.

Retek was founded in 1986 and provides supply chain and merchandise planning software. It turned over $168m in 2003 and employs 550 people. Almost 80 per cent of Retek's customers run their apps on an Oracle platform.

Oracle press release available here.®

Related stories

Oracle CFO exits as fight for Retek heats up
Oracle's bid for Retek leaves SAP speechless
Oracle puts $525m between SAP and Retek

Internet Security Threat Report 2014

More from The Register

next story
Preview redux: Microsoft ships new Windows 10 build with 7,000 changes
Latest bleeding-edge bits borrow Action Center from Windows Phone
Google opens Inbox – email for people too thick to handle email
Print this article out and give it to someone tech-y if you get stuck
Microsoft promises Windows 10 will mean two-factor auth for all
Sneak peek at security features Redmond's baking into new OS
UNIX greybeards threaten Debian fork over systemd plan
'Veteran Unix Admins' fear desktop emphasis is betraying open source
Entity Framework goes 'code first' as Microsoft pulls visual design tool
Visual Studio database diagramming's out the window
Google+ goes TITSUP. But WHO knew? How long? Anyone ... Hello ...
Wobbly Gmail, Contacts, Calendar on the other hand ...
DEATH by PowerPoint: Microsoft warns of 0-day attack hidden in slides
Might put out patch in update, might chuck it out sooner
Ubuntu 14.10 tries pulling a Steve Ballmer on cloudy offerings
Oi, Windows, centOS and openSUSE – behave, we're all friends here
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.