Oracle and Siebel Held Acquisition Talks, Reports Say

May 2, 2005 / By Paul Vallee

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The talks are no longer active, but sources say that Oracle was recently meeting with Siebel Systems about a possible buyout.

Siebel has been under a lot of pressure due to last month’s disappointing earnings report and anxious investors. George Shaheen, Siebel’s new CEO, will be presenting his plan for the company’s turnaround soon, most likely focusing on the sales process. Neither Siebel nor Oracle representatives could be reached for comment regarding the discussions between the two companies.

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