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 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.
Deep Dive
Uncategorized
Capitalizing on machine learning with collaborative, structured enterprise tooling teams
Machine learning advances require an evolution of processes, tooling, and operations.
The Download: how to fight pandemics, and a top scientist turned-advisor
Plus: Humane's Ai Pin has been unveiled
The race to destroy PFAS, the forever chemicals
Scientists are showing these damaging compounds can be beat.
How scientists are being squeezed to take sides in the conflict between Israel and Palestine
Tensions over the war are flaring on social media—with real-life ramifications.
Stay connected
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.