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PeopleSoft Bows to Oracle

Ending an 18-month David vs. Goliath drama, PeopleSoft announced today that it has agreed to Oracle’s $10.3 billion acquisition bid. That price translates to $26.50 per PeopleSoft share, lower than the company had been pushing for but high enough to…
December 13, 2004

Ending an 18-month David vs. Goliath drama, PeopleSoft announced today that it has agreed to Oracle’s $10.3 billion acquisition bid. That price translates to $26.50 per PeopleSoft share, lower than the company had been pushing for but high enough to satisfy PeopleSoft’s shareholders, according to CEO David Duffield. Now the companies must overcome the bitter animosity and name-calling of the past year and a half (at one point former PeopleSoft CEO Craig Conway called Oracle CEO Larry Ellison “sociopathic”) and begin the difficult process of merging their corporate cultures and software development operations.

The deal may be a net loss for the Silicon Valley economy, as Ellison says that jobs will be cut at both companies. On the other hand, Oracle’s long-expected victory (PeopleSoft rejected five earlier bids) could help the company compete against Germany’s SAP, the market leader in business applications software.

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Five poems about the mind

DREAM VENDING MACHINE I feed it coins and watch the spring coil back,the clunk of a vacuum-packed, foil-wrappeddream dropping into the tray. It dispenses all kinds of dreams—bad dreams, good dreams,short nightmares to stave off worse ones, recurring dreams with a teacake marshmallow center.Hardboiled caramel dreams to tuck in your cheek,a bag of orange dreams…

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Illustration by Rose WongIllustration by Rose Wong

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