Oracle agrees to buy Siebel
Oracle said today it had agreed to buy Siebel Systems for about $5.85 billion. Oracle Chief Executive Larry Ellison said this would make Oracle "the number one [Customer Relations Management] applications company in the world."
This has been a long time coming. Talks have gone on for months. In fact, we'd heard about this latest offer Thursday afternoon, when a source told us Siebel's management had been locked up all day considering whether to accept the offer, and it resulted in this story in the Mercury News Saturday. And it is just the latest of the summer surprise feast we'd mentioned here. If Peoplesoft was the main course earlier on, Siebel is the dessert.
Update: Jeff Nolan, over at the venture arm of SAP, a competitor to Oracle, says this must "suck" for Oracle and PeopleSoft employees working on CRM internally, and says he is accepting resumes. He also points to an interesting summary of blog notes about the deal:
must suck to be in the Oracle or PSFT CRM groups and listen to Larry comment that Siebel is the centerpiece going forward...all that work getting into shape to compete with Siebel, buy a new dress and then you find out that you have been dropped at the side of the road, without bus money, while your date takes another girl to the prom. Totally sucks. Resumes will be accepted.
News of Oracle's $5.8 billion buyout of software maker Siebel Systems had many bloggers asking what the deal will mean for the two companies and for customer relationship management software in general.
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