Oracle and Siebel Cleared for Merger
Oracle and Siebel Cleared for Merger
December 23, 2005: Oracle’s US$5.85 billion purchase of enterprise software rival Siebel Systems has been cleared by the European Commission, clearing the way for Oracle to become the largest enterprise software company in the world.
The Commission’s decision was the last step in the approval process for Oracle, having already been granted antitrust approval in the U.S. in November.
According to the Commission, the merging of Oracle’s database and enterprise application software with Siebel’s customer relationship management software will not hamper healthy competition.
Oracle spokesperson Bob Wynne says "We are very pleased with the Commission's decision and believe we are on track to complete this merger and begin serving our combined customer base in the first quarter of '06, as scheduled."
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