Oracle Acquiring E-Commerce Company ATG for $1 Billion
Oracle announced today that it’s buying e-commerce software company Art Technology Group (ATG) for about $1 billion.
"Driven by the convergence of online and traditional commerce and the need to increase revenue and improve customer loyalty, organizations 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 of 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."
"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 of 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 centers."
The company offers a variety of e-commerce products and services:
"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," added Bob Weiler, Executive Vice President, Oracle 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."
The acquisition has yet to gain stockholder or regulatory approval, and must go through other customary closing conditions, but Orcale expects to close the deal by early next year.