Oracle to Bid $525 Million for Retek

Posted in: Technical Track

Oracle has made Retek Inc. an offer of $9 a share in an effort to prevent rival SAP from purchasing the software firm. Last week Retek announced that it had accepted SAP’s $496 million offer, which amounts to $8.50 per share.

It is unclear what kind of bidding war will ensue over Retek, but Oracle is clearly making moves to stop SAP from increasing their North American market share. Retek, which specializes in applications for the retail industry, had just $174 million in sales last year.

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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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