Feeds

Bully Oracle beats SAP to Retek

And for just $670m

  • alert
  • submit to reddit

Build a business case: developing custom apps

Oracle will complete its showy acquisition of retail software maker Retek on Tuesday, beating out rival SAP.

Oracle currently holds 94 per cent of Retek's outstanding shares, giving it enough clout to close the acquisition, it said on Monday. All of the remaining shareholders will be offered $11.25 per share in cash tomorrow.

"With our acquisition of Retek complete, Oracle is poised to provide retailers with an unparalleled partner for information technology solutions," said Charles Phillips, president at Oracle.

Oracle shelled out $670m for the company, or $11.25 per share. SAP originally offered $8.50 per share for Retek, was outbid by Oracle and raised its target to $11 per share only to be outbid by Oracle again.

Oracle has created a Retail Global Business Unit for the Retek assets.

"By establishing a separate business unit, we will be able to maintain the specialization of Retek's employee base and quickly go to market in the retail sector," Phillips said.

There will be a customer "town hall" meeting held on 15 April. A link to a webcast of the event will be posted here. ®

Related stories

Oracle snaps up security firm
Peoplesoft eats at Oracle profits
Oracle wins Retek bidding war
Oracle CFO exits as fight for Retek heats up
Oracle's bid for Retek leaves SAP speechless
Oracle puts $525m between SAP and Retek

The essential guide to IT transformation

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Microsoft cries UNINSTALL in the wake of Blue Screens of Death™
Cache crash causes contained choloric calamity
Munich considers dumping Linux for ... GULP ... Windows!
Give a penguinista a hug, the Outlook's not good for open source's poster child
Time to move away from Windows 7 ... whoa, whoa, who said anything about Windows 8?
Start migrating now to avoid another XPocalypse – Gartner
You'll find Yoda at the back of every IT conference
The piss always taking is he. Bastard the.
HANA has SAP cuddling up to 'smaller partners'
Wanted: algorithm wranglers, not systems giants
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
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.