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Oracle completes acquisition of Siebel

Oracle completes acquisition of Siebel

Oracle Corp. completed its acquisition of Siebel Systems Inc. on Tuesday, the company said the same day.

Oracle announced Tuesday that it has completed its acquisition of Siebel Systems after Siebel stockholders voted in favor of the acquisition at a meeting earlier in the day.

The deal strengthens Oracle's position in the CRM (customer relationship applications) market as it battles its main business applications rival, Germany's SAP.

The acquisition makes Oracle "the undisputed leader in Customer Relationship Management software," Chief Executive Officer Larry Ellison said in a statement.

Oracle will hold a conference call on Feb. 9 to discuss its expectations for the combined companies, the company said.

The deal, which valued Siebel at almost US$6 billion, was announced in September last year. Oracle said in December that it hoped to complete the acquisition on Jan. 31 or shortly thereafter.


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