November 2, 2010 – Oracle said it has offered $1 billion to acquire Art Technology Group Inc. (ATG), an online sales and customer relationship management company.
In a statement, Oracle said its CRM, ERP, and retail and supply chain applications would be complimented by ATG’s e-commerce and customer optimization platforms.
ATG, based in Cambridge, Mass., was founded in 1991 and more than 1,000 companies around the world use its commerce software and services, according to the company website.
The proposed deal would involve a cash merger for $6 per share, totaling about $1 billion, according to an Oracle news release.
The acquisition is expected to close by early 2011. In a news release, executives from both companies praised the development and unification of online sales applications made possible by the move.
“The addition of ATG, which brings market-leading products used by some of the largest and most well-known retailers and brands, furthers Oracle’s strategy of delivering industry-specific enterprise applications,” said Bob Weiler, executive vice president, Oracle Global Business Units.
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