News
Oracle acquires BEA Systems
January 2008 by Emmanuelle Lamandé
Oracle Corporation and BEA Systems announced they have entered into a definitive agreement under which Oracle will acquire all outstanding shares of BEA for $19.375 per share in cash. The offer is valued at approximately $8.5 billion, or $7.2 billion net of BEA’s cash on hand of $1.3 billion.
The proposed transaction is subject to closing conditions, including regulatory, shareholder and other approvals. Until the deal closes, each company will continue to operate independently, and it is business as usual.
The addition of BEA is expected to accelerate innovation by bringing together two companies with a common vision of a modern service-oriented architecture (SOA) infrastructure and will further increase the value that Oracle delivers to its customers and partners.
The Board of Directors of BEA Systems has unanimously approved the transaction. It is anticipated to close by mid-2008, subject to BEA stockholder approval, certain regulatory approvals and customary closing conditions.
