Oracle says gets US regulator OK on Siebel deal

SAN FRANCISCO (Reuters) - Database software giant Oracle Corp said on Tuesday that US antitrust regulators had cleared its US$5.9 billion purchase of formerly fierce rival Siebel Systems Inc.

Oracle said that the planned acquisition still requires regulatory clearance from the European Commission and is subject to other conditions.

Oracle said in a statement that it expects to close the transaction in the first quarter of next year.

If completed, the transaction would give Oracle a leg up in its battle with German rival SAP AG of Germany, which is the leader in the market for software that helps large companies automate business functions ranging from human resources to accounting to inventory management.

In the past two years, Redwood Shores, California-based Oracle has spent some US$19 billion buying up rivals as part of a strategy to lead what Oracle chief executive Larry Ellison has termed the consolidation of the business software industry.

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