Oracle to buy Siebel Systems for $5.85 billion
Oracle Corp. has agreed to acquire business applications software vendor Siebel Systems Inc. in a deal valued at approximately $5.85 billion, or a net value of $3.61 billion taking into account Siebel’s cash on hand, the companies announced today.
“In a single step, Oracle becomes the No. 1 CRM applications company in the world,” said CEO Larry Ellison in a statement. “Siebel’s 4,000 applications customers and [3.4 million] CRM users strengthen our No. 1 position in applications in North America and move us closer to the No. 1 position in applications globally.”
