Art Technology Group (ATG), a provider of e-commerce software and related on demand commerce optimization applications, today announced that it has agreed to be acquired by Oracle Corp. for $6.00 per share in cash, or approximately $1.0 billion. The transaction is subject to stockholder and regulatory approval and other customary closing conditions. The deal is expected to close by early 2011.
ATG's eCommerce software platform is a top-ranked cross-channel commerce solution and is highly complementary to Oracle's CRM, ERP, Retail, and Supply Chain applications, as well as its portfolio of middleware and business intelligence technologies, the company said in a press release. Together Oracle and ATG expect to help businesses grow revenue, strengthen customer loyalty, improve brand value, achieve better operating results, and increase business agility across online and traditional commerce environments.
"Driven by the convergence of online and traditional commerce and the need to increase revenue and improve customer loyalty, organizations across many industries are looking for a unified commerce and CRM platform to provide a seamless experience across all commerce channels," said Thomas Kurian, executive vice president, Oracle Development. "Bringing together the complementary technologies and products from Oracle and ATG will enable the delivery of next-generation, unified cross-channel commerce and CRM."
"More than 1,000 global enterprises rely on ATG's solutions to help increase the value of their online customer interactions," said Bob Burke, ATG president and CEO. "This combination will enhance the ability to bring all their commerce activities together — creating a more consistent and relevant experience for their customers across all interaction channels, including online, in stores, via mobile devices and with call centers."
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Oracle to acquire ATG
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