New York City Oracle Corp. announced Tuesday it would purchase e-commerce software company Art Technology Group (ATG) for approximately $1 billion in cash. Industry experts said the deal underscores Oracle’s desire to strengthen its e-commerce and customer relationship management business, particularly given the growth of mobile devices.
"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."
ATG's e-commerce software platform is highly complementary to Oracle's CRM, ERP, retail and supply chain applications as well as its middleware and business intelligence technologies.
The acquisition is up for stockholder and regulatory approval and is expected to close in early 2011.