Oracle Corp., one of the major companies developing database management systems, was granted approval to acquire BEA Systems Inc for $8.5 billion.
Earlier the software maker announced that it had made a bid to buy BEA Systems for a price of $17/share, an offer that was rejected by the BEA board who felt that the company was worth more than that. On January 16, 2008 Oracle offered $19.375/share in cash for a total of $7.2 billion.
It’s the company's second largest acquisition since 2004, when after a long battle over the control of PeopleSoft, Oracle announces that it has signed an agreement to acquire PeopleSoft for $26.50 per share (approximately $10.3 billion).
The purchase of BEA Systems will give Oracle an opportunity to fight for lead at middleware software market.
It is becoming clear that America can no longer maintain its status as the only superpower in the world. In the economic field, China has moved ahead of America