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
Our best illustrations of 2022
Our artists’ thought-provoking, playful creations bring our stories to life, often saying more with an image than words ever could.
How CRISPR is making farmed animals bigger, stronger, and healthier
These gene-edited fish, pigs, and other animals could soon be on the menu.
The Download: the Saudi sci-fi megacity, and sleeping babies’ brains
10 Breakthrough Technologies 2023
Stay connected
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.