Oracle has agreed to buy e-commerce company Art Technology Group for about 1 billion dollars in a move designed to expand the range of services the business software giant can offer its customers. According to an announcement Tuesday, Oracle said it will pay 6 dollars a share for the company, which counts among its clients Best Buy, AT&T and Continental Airlines. The price represents a 46-per-cent premium to Art Technology's share price prior to the announcement of the deal.
The deal came as Oracle and its rivals like HP and IBM have intensified their acquisitions as they seek to offer a complete range of technology services to their customers. Oracle is currently involved in a fractious court battle with SAP over the illegal use of Oracle software by an SAP subsidiary. The case, which began Monday in Oakland, California, also threatens to worsen relations between Oracle and HP, whose current CEO Leo Apotheker, is the former boss of SAP and could be called to testify.
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