Oracle to Buy Agile Software
In yet another acquisition move, Oracle makes a definitive agreement to buy Agile Software Corporation, a provider of product lifecycle management solutions (PLM), through a cash merger for $8.10 per share, or approximately $495 million.
Agile's enterprise-class PLM solutions help companies across multiple industries drive profits, accelerate innovation, improve quality, enable globalization and ensure regulatory compliance throughout the product lifecycle.
"Profitable product innovation is critical to product-based industries, making PLM one of the fastest growing application segments," says Oracle President Charles Phillips. "The addition of Agile, which will serve as the foundation of our PLM offering, will further Oracle's strategy of delivering industry-specific enterprise applications and allows us to offer yet another strategic application to SAP customers."
"With over 1,250 PLM customers and over 10,000 visualization customers globally, Agile has a proven track record of rapid, successful implementations, integrated across a wide range of ERP and CAD systems," says Agile CEO Jay Fulcher. "By becoming part of Oracle we can bring Agile's solutions to a wider audience and accelerate the advance of Enterprise PLM."
The merger is subject to stockholder and regulatory approval and other customary closing conditions and is expected to close in July 2007.