SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Speculating in Takeover Targets
CTG 7.510+6.5%12:32 PM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: richardred who wrote (2497)11/2/2010 9:56:17 AM
From: richardred  Read Replies (1) of 6521
 
Oracle to Buy Art Technology Group for $1 Billion
November 2, 2010, 8:48 am

Oracle agreed on Tuesday to buy the Art Technology Group, an e-commerce software provider, for about $1 billion.

Under the terms of the deal, Oracle will pay $6 a share in cash, 46 percent above Art Technology’s closing stock price on Monday. It is the first deal that Oracle has announced since it hired Mark V. Hurd, the deal-making former chief executive of Hewlett-Packard.

Also on Tuesday, Art Technology posted $4.2 million in net income on $50.3 million in revenue for the third quarter, up markedly from the same period a year earlier.

Art Technology, based in Cambridge, Mass., makes a range of e-commerce products like customer analysis software and Internet-based calling solutions. The two companies said that Art Technology’s platform will complement Oracle’s existing customer relationship management and retail products.

The deal is expected to close early next year, pending approval of Art Technology shareholders.
dealbook.blogs.nytimes.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext