Art Technology Group, Inc. (ARTG) To Be Acquired By Oracle; Announces Positive Third Quarter Results
Art Technology Group, Inc., major provider of top-ranked ecommerce software and associated applications, announced yesterday that it has agreed to be acquired by Oracle Corporation (NASDAQ: ORCL). The transaction calls for $6 per share in cash, totaling approximately $1 billion, and is subject to stockholder and regulatory approval. Closing is expected by early 2011. Art Technology President and CEO, Bob Burke, said of the agreement, “More than 1,000 global enterprises rely on ATG’s solutions to help increase the value of their online customer interactions. This combination will enhance the ability to bring all their commerce activities together – creating a…