Oracle acquires BEA systems

“We expect this deal to be accretive to Oracle’s earnings by at least one to two cents on a non-GAAP basis in its first full year after closing,” said Safra Catz, president and chief financial officer, Oracle.

According to Larry Ellison, chief executive officer, Oracle, the addition of BEA products and technology will significantly enhance and extend the vendor’s Fusion middleware software suite.

“Oracle Fusion middleware has an open ‘hot-pluggable’ architecture that allows customers the option of coupling BEA’s WebLogic Java Server to virtually all the components of the Fusion software suite,” Ellison said. “That’s just one example of how customers can choose among Oracle and BEA middleware products, knowing that those products will gracefully interoperate and be supported for years to come.”

Alfred Chuang, chairman and chief executive officer of BEA Systems claimed the company’s board of directors have in recent months been investigating ways to maximise stockholder value. The vendor drew on the expertise of independent and legal advisors and engaged in discussions with third parties about the possible sale of the company.

“This transaction is the culmination of that diligent and thoughtful process, and we believe it is in the best interests of our shareholders,” Chuang said. “We look forward to working with Oracle toward a successful completion of the transaction.”

The deal is anticipated to close by mid-2008, subject to BEA stockholder approval, certain regulatory approvals and customary closing conditions.