TechnologyAccounting SoftwareOracle to acquire Seibel in £3.2bn deal

Oracle to acquire Seibel in £3.2bn deal

CRM leader to be taken over as Oracle continues its acquisition spree

Oracle is to acquire customer relationship
management (CRM) software provider Siebel in a $5.8bn (£3.2bn) deal.

The deal, which is dependent on a vote by
Siebel shareholders, is set to close in early 2006.

Oracle will maintain support for Siebel
products while incorporating the company’s CRM product range into its own, says
chief executive Larry Ellison.

‘This acquisition meets Oracle’s two key
criteria for a large buy, it is immediately accretive and strategically sound,
it makes us number one in a market where we already participate,’ he said.

‘Siebel is the CRM category leader, with more
than 4,000 customers and 3.4 million users live, so this move makes us number
one in sales automation.’

Siebel founder Tom Siebel says that this is a
very exciting day for him, his company, and its customers.

‘This is a very natural business combination,
and a customer driven event. We have been encouraged to move together by
customer and partners over and over again, particularly in the last couple of
years,’ he said.

‘The combination of Oracle’s capability with
Siebel CRM technologies and our domain leadership will assure the continued
success and advancement of this technology.’

The purchase of Siebel is Oracle’s ninth
acquisition of a company or product in less than 12 months, and means the vendor
will be supporting four CRM applications – its own, Siebel, and those previously
provided by PeopleSoft and JD Edwards.

Related Articles

Sage purchases Intacct in its largest ever acquisition

Accounting Software Sage purchases Intacct in its largest ever acquisition

3m Alia Shoaib, Reporter
5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

3m Alia Shoaib, Reporter
UK behind foreign markets in digital accounting, but gap is narrowing

Accounting Software UK behind foreign markets in digital accounting, but gap is narrowing

5m Alia Shoaib, Reporter
Four reasons why SME owners should switch to cloud accounting

Accounting Software Four reasons why SME owners should switch to cloud accounting

7m Emma Smith, Managing Editor
BDO strikes technology partnership with Receipt Bank

Accounting Firms BDO strikes technology partnership with Receipt Bank

7m Emma Smith, Managing Editor
The rise of the progressive accountant

Accounting Software The rise of the progressive accountant

6m Emma Smith, Managing Editor
Making Tax Digital: Revolution or revolt?

Accounting Software Making Tax Digital: Revolution or revolt?

6m Emma Smith, Managing Editor
Making Tax Digital: Is HMRC’s recent system fault a cause for concern?

Accounting Software Making Tax Digital: Is HMRC’s recent system fault a cause for concern?

6m Emma Smith, Managing Editor