Speaking on a conference call today, Henley said a letter has already been sent to the PeopleSoft board, and he expects the company to make an official offer on Monday. ‘We think this could all happen fairly soon. We expect the transaction to be completed in July,’ he said.
Larry Ellison, Oracle chief executive, said he had been looking at the deal for over a year following an approach by PeopleSoft president and chief operating officer, Craig Conway.’I can only say what Craig Conway said to me a year ago, which is that the two businesses together would be a very formidable player in the market and I couldn’t agree with him more,’ Ellison said.
He said the acquisition would be very healthy for the industry. ‘There’s a very strong player in the market already out there in SAP and you have an upcoming player which is making billions of dollars in investment, in Microsoft. I think the combination of Oracle and PeopleSoft will make a third strong player in the market. That’s what we need, more competition.’
Dennis Keeling, chief executive of BASDA, the international software standards body, said the deal has a ‘good chance’ of going through.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016