Oracle will acquire Siebel Systems, which makes software to help companies manage relationships with their customers, for $5.85 billion in cash and stock.


Business software company Oracle (ORCL) will acquire Siebel Systems (SEBL), which makes software to help companies manage relationships with their customers, in a deal worth about $5.85 billion in cash and stock.

Oracle is offering $10.66 for each share of Siebel, a 16.8% premium above Siebel’s $9.13 closing price Friday. Siebel shares rose on the news; Oracle shares fell.

Oracle Chief Executive Larry Ellison said, “In a single step, Oracle becomes the number one CRM (customer relationship management) applications company in the world. Siebel’s 4,000 applications customers and 3.4 million CRM users strengthen our number one position in applications in North America and move us closer to the number one position in applications globally”.

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