Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 9, 2008 4:58:09 AM CDT

Learn about Newser Points »

Back to the grid

Oracle Wins BEA With Sweetened $8.5B Bid

Posted Jan 16, 08 7:51 AM CST in Technology,  Business    Editor's Choice

(Newser) – Business software maker Oracle continued its yearlong buying spree, closing a contentious deal with middleware maker BEA Systems after raising its offer to $8.5 billion, or $19.38 a share, Bloomberg reports. In October, Oracle offered BEA $6.7 billion, or $17 per share, and was rejected. Instead BEA, one of the Silicon Valley's last midsize independents, demanded what Oracle termed an "impossibly high" $21.

Oracle CEO Larry Ellison said the deal will “enhance and extend Oracle’s Fusion middleware software suite.” The sale is expected to close around the middle of the year. Oracle, which closed at $21.31 yesterday, fell 51 cents on pre-opening trading to $20.80. In November, Ellison told analysts, “If we made another offer, the price would be lower."

Sources Bloomberg, Wall Street Journal

Editor Recommended

Related News

  • Economic Worries Propel Silicon Valley Deals

    Jan 17, 08 12:59 PM CST
    Economic Worries Propel Silicon Valley Deals Recent acquisitions by Sun Microsystems and Oracle could be the opening round of new Silicon Valley deal-making, the Wall Street Journal reports, as tech companies worried about a US economic slowdown seek to strengthen their positions. Smaller companies struggling to stay afloat are tempting targets; bigger fish also want to invest in building web-based software and services—a still-growing sector. More »

  • Oracle Blasts Forecasts With 35% Profit

    Dec 19, 07 6:25 PM CST
    Oracle Blasts Forecasts With 35% Profit Database software-maker Oracle surprised analysts today, reporting its income surged 35 percent in the second quarter to $1.3 billion, thanks to the success of new programs and customer-support contracts. Experts had expected sales of approximately $5.03 billion, Bloomberg reports, but the company boasted sales of $5.36 billion—pulling in a profit of 25 cents per share. More »

  • BEA Says It’s Worth $8.2B

    Oct 25, 07 3:07 PM CDT
    BEA Says It’s Worth $8.2B The board of BEA Systems responded to a time-sensitive takeover offer from Oracle today, valuing itself at $8.2 billion—fully $1.5 billion more than the database giant's bid. Oracle’s $17-a-share offer, now two weeks old, will expire on Sunday evening if BEA doesn’t act on it. But the fiercely independent middleware company says a sale at that figure simply isn’t in its “best interests,” the Journal reports. More »

  • Software Titan Oracle Eyes Another Conquest

    Oct 13, 07 1:03 PM CDT
    Software Titan Oracle Eyes Another Conquest Software maker BEA Systems is under pressure from shareholder Carl Icahn to sell, but executives say this week’s $6.7 billion offer by Oracle is too low. Icahn agreed the unsolicited bid wasn’t good enough but said he was pleased an offer was made, the New York Times reports. Analysts expect Oracle to raise its offer and get BEA. More »

Oracle Corp. CEO Larry Ellison, right, and President and CFO Safra Catz, smile during Oracle Open World conference in San Francisco, Wednesday, Nov. 14, 2007.   (Associated Press)
Oracle CEO Larry Ellison speaks at the Oracle World Conference in San Francisco, Wednesday, Nov. 14, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
An exterior view of Bea Systems headquarters in San Jose, Calif. is seen Monday, Oct. 15, 2007.   (Associated Press)
Oracle CEO Larry Ellison crosses his fingers as he speaks at Oracle World Conference in San Francisco, Wednesday, Nov. 14, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
prev    next
play

Threads (1 of 2)

Tags

Nasdaq  • acquisitions  • Silicon Valley  • software  • Oracle  • BEA Systems  • Larry Ellison  • middleware


Loading...

Loading...

Related Threads: Mergers & Acquisitions, Oracle's Buying Spree

Next story from this section »

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »