Oracle Beats SAP to Buy Retek for $670M

Posted in: Technical Track

Oracle has reached a deal with Retek to purchase the retail software business for approximately $670 million, or $11.25 per share. This puts an end to the recent bidding war between Oracle and rival SAP.

Henning Kagerman, chief executive of SAP, announced that SAP was dropping out of the bidding because “neither our shareholders nor retail customers would benefit from an auction process that would further inflate the purchase price, and in the long run, not deliver the returns we demand.

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About the Author

As Pythian’s Chief Executive Officer, Paul leads this center of excellence for expert, outsourced technical services for companies whose systems are directly tied to revenue growth and business success. His passion and foresight for using data and technology to drive business success has helped Pythian become a high-growth global company with over 400 employees and offices in North America, Europe, and Asia. Paul, who started his career as a data scientist, founded Pythian when he was 25 years old. In addition to driving the business, Paul is a vocal proponent of diversity in the workplace, human rights, and economic empowerment. He supports his commitment through Pythian’s hiring and retention practices, his role as board member for the Basic Income Canada Network, and as a supporter of women in technology.

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