/>
X

Oracle acquires Art Technology Group for $1 billion; eyes e-commerce

Oracle will acquire Art Technology Group for $1 billion in cash in a move to add more e-commerce features to its applications.
larry-dignan-eic.jpg
Written by Larry Dignan, Contributing Editor on

Oracle on Tuesday said it will acquire Art Technology Group for $1 billion in cash.

That price tag equates to $6 a share for Art Technology Group (ATG), which provides e-commerce software. ATG closed at $4.10 a share on Monday.

Oracle said the deal will close in early 2011. So what's the plan? Oracle plans to take ATG's e-commerce platform and align it with its various applications ranging from CRM to ERP to its retail and supply chain software. With ATG, Oracle will move to position its applications to being more about growing revenue.

ATG went public in 1999 and has made a serious of acquisitions every two years since 2004 to build out its portfolio. The company offers both on-premise and on-demand e-commerce software focused on verticals such as telecom, retail, manufacturing and financial services. Its flagship suite is ATG Commerce.

ATG also reported its third quarter earnings. The company reported net income of $4.2 million, or 3 cents a share, on revenue of $50.3 million, up 16 percent from a year ago.

Here are two screenshots to illustrate ATG's software.

Related

The 5 best tiny houses of 2022: Modern tiny homes
Placeholder product image alt text

The 5 best tiny houses of 2022: Modern tiny homes

Home & Office
How to stop spam messages on your iPhone with this almost-secret hidden switch
messages.jpg

How to stop spam messages on your iPhone with this almost-secret hidden switch

Security
Windows 11: How to move the Start button back to where it belongs
windows-11-start-button.jpg

Windows 11: How to move the Start button back to where it belongs

Microsoft