Software maker Oracle Corp
Oracle will pay Phase Forward $17.00 per share in cash, the companies said on Friday, a 30 percent premium over Thursday's closing price of $13.08. Phase Forward shares jumped 29 percent to $16.89 in premarket trade.
The deal is expected to close in mid-2010. Oracle said the combination of the companies' software will enable researchers, physicians, and clinical development professionals to contribute and share data more efficiently.
Phase Forward's data management software is used by companies including AstraZeneca
Oracle shares were down slightly in pre-market trade at $26.10 compared to Thursday' close at $26.20.
(Reporting by Ritsuko Ando; Editing by Lisa Von Ahn and Derek Caney)