Oracle buys ATG for $1 billion

Oracle has confirmed its purchase of Art Technology Group (ATG) for a significant sum of $1 billion (624 million).

The figure for the eCommerce company works out as $6 per share and Oracle claims it will complement its own CRM, ERP, retail and supply chain offerings.

"The addition of ATG, which brings market-leading products used by some of the largest and most well-known retailers and brands, furthers Oracle's strategy of delivering industry-specific enterprise applications," said Bob Weiler, executive vice president of Oracle's Global Business Units.

"This acquisition builds upon our dedication to offer the most complete and integrated suite of best-of-breed software applications and technologies required to power the most demanding companies in the world in every industry."

Bob Burke, president and chief executive of ATG, claimed it was going to be a positive move for his company's 1,000-plus customers.

"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," he said.

Although agreed in principal, the acquisition still needs to get stakeholder and regulatory approval. The companies predicted the deal would close early next year.

This latest acqusition shows Oracle is still keen on bringing in technology from outside to boost revenues. This year alone, it has already bought up six firms, including data protection company Secerno and SOA management outfit AmberPoint.