0.09%QQQQ 50.01 0.08%MSFT 29.99 
1.51%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
REDWOOD SHORES, Calif. (AP) - Business software maker Oracle Corp. completed its $8.5 billion takeover of rival BEA Systems Inc. Tuesday after European regulators approved the deal.
It was Oracle's largest acquisition since the Redwood Shores-based company paid $11.1 billion for PeopleSoft Inc. in 2005. Oracle has now spent about $35 billion buying dozens of its smaller competitors during the past three years in an effort to build a one-stop shop for database and business applications software.
Oracle prizes San Jose-based BEA for its so-called "middleware" computer coding that helps business programs interact with databases.
The takeover is expected to trigger layoffs among BEA's work force of 4,100 employees, most of whom will receive severance packages as part of a plan adopted late last year while BEA's board was still trying to fend off Oracle.
Oracle has acknowledged job cuts are likely as it strives to maximize its profit from the BEA deal but hasn't specified how many workers will be jettisoned.
A company spokeswoman declined to comment Tuesday.
As of Feb. 28, Oracle employed about 80,200 workers worldwide.
Eritrea is considering five more applications for exploration licences, and will make its decision within the year.
Financial stocks fell on Friday on falling consumer sentiment as led by losses at large regional banks Keycorp and Regions which were hurt by dow...
The One Laptop Per Child project is about to find out whether Microsoft Corp., a...
|
Professional Website Design For Corporate - Get a Free Quote Today
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
-0.19
0
