Oracle buys PeopleSoft.Oracle Corporation has announced its signing of a definitive merger agreement to acquire PeopleSoft (PeopleSoft, Inc., Pleasanton, CA, www.peoplesoft.com) A software company that specialized in enterprise-wide applications for client/server environments. Initially specializing in human resources, its package offerings covered the gamut including financial, distribution, manufacturing , Inc. after 18 months' of hostility HOSTILITY. A state of open enmity; open war. Wolff, Dr. de la Rat. Sec. 1191. Hostility, as it regards individuals, may be permanent or temporary; it is permanent when the individual is a citizen or subject of the government at war, and temporary when he happens to be domiciliated or . Oracle intends to enhance PeopleSoft 8, to develop a PeopleSoft 9, to enhance a JD Edwards See J.D. Edwards. 5, and to develop a JD Edwards 6. It also intends to immediately extend and improve support for JD Edwards and PeopleSoft customers worldwide. Oracle revealed that it will be paying $10.3 billion (in cash) for the acquisition of PeopleSoft. This translates to $26.50 a share. Oracle had insisted its previous offer of $24 per share, or $9.2 billion, was its best and final offer. PeopleSoft stockholders have tendered approximately 75 percent of PeopleSoft outstanding stock, as of December December: see month. 28, giving Oracle control of the company. The combined organization is now positioned to become the second-largest producer of business application software, after only SAP. www.oracle.com www.peoplesoft.com |
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