News

Siebel’s Purchase by Oracle to be finalized Soon

December 31, 2005

According to an Oracle spokesman Oracle is planning to complete the acquisition of Siebel Systems Inc on Jan 31 or shortly after that. The acquisition is planned to be of US$ 5.85 billion.

Customer relationship management (CRM) software vendor Siebel announced plans late Thursday to hold a special stockholder meeting on Jan. 31 to vote on Oracle's plans to acquire the company. The stockholder meeting is due to take place in San Mateo Jan. 31 at 11 a.m. PT.

Earlier this month, the European Commission cleared Oracle's proposed takeover of Siebel, determining that the purchase wouldn't impede effective competition to a significant extent in the enterprise applications market. U.S. regulators approved the deal in November.