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Oracle buys Retek software

Oracle today announced that they have won the bidding war with SAP for the Retek software, a popular end-to-end retail management ERP suite:


The article notes that Oracle’s Ellison sees Retek as a major acquisition:


In a press release, Oracle said it will acquire Retek at a price of $11.25 for each outstanding Retek share and said that SAP had dropped out of the bidding.


"Oracle has the largest applications business in North America, and we intend to expand that leadership position," Oracle CEO Larry Ellison said in a statement. "Combining Oracle with Retek is an important step in that direction, and it strengthens our position in the retail applications market globally."

. . . .


Retek CEO Marty Leestma said Oracle's offer represented "a good deal for Retek stockholders" and said that all of the directors who attended a board meeting had approved the pact. Retek did not identify which director or directors did not attend the meeting. "We will work with Oracle over the next several weeks to ensure that the integration is not disruptive for our clients and employees," Leestma said in a statement.


Oracle noted that nearly four in five Retek customers run that company's applications on top of Oracle's database.


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