Software giant Oracle has acquired Art Technology Group (ATG) for US$1bn in cash. ATG is a leading provider of e-commerce and on-demand commerce applications.
Oracle has bought ATG through a cash merger for US$6 per share, or approximately US$1.0bn.
The transaction is subject to stockholder and regulatory approval and is expected to close by early 2011.
“Driven by the convergence of online and traditional commerce and the need to increase revenue and improve customer loyalty, organisations 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.”
ATG’s e-commerce software platform is the industry’s top-ranked, cross-channel commerce solution and Oracle says this complements its own suites of CRM, ERP, retail and supply chain applications, as well as its middleware and business intelligence technologies.
“More than 1,000 global enterprises rely on ATG’s solutions to help increase the value of their online customer interactions,” said Bob Burke, president and CEO, ATG.
“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 centres," Burke said.
Get your early bird tickets now!